SIA Calls Nasdaq Clearing Risks Unman Ageable Under An Optimark Facility
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New York--The Securities Industry Association (SIA) has sounded a further alarm over Nasdaq's plan to use the Optimark trade matching system as a facility of the market. Optimark's screen-based trading service would be used by NASD members and some non-members to submit "profiles" to represent trading interest anonymously across a range of prices and sizes and search for matches of securities listed on the Nasdaq.
In an August 26 letter to the SEC, SIA argues that correspondents would be exposed
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