Nasdaq's New System Has Support, Despite Objections By Some ECNs
TRADING LINKS
Nasdaq's anticipated proposal for its second-generation system could be being submitted to the Securities and Exchange Commission as soon as this week, although a spokesman for the over-the-counter market could not provide the precise date. Nasdaq's legal staff has been saying for weeks that they are on the verge of finalizing the document, but have been stymied from signing off on a final draft.
The source of the delays is hard to determine, but despite the support of the Nasdaq proposals among
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