OTA Raps NYSE Specialists; Proposes Auto/Manual Systems
THIS WEEK'S LEAD STORIES
Leveling the third in a recent series of blows against the New York Stock Exchange's use of floor-based specialists, the Office of Technology Assessment, in a report published last month, discussed abandonment of the NYSE's Rule 390, which preserves the role of the specialist.
In its report, "Electronic Bulls & Bears: U.S. Securities Markets & Information Technology," the OTA says specialists "... may have led to inflexibility in dealing with economic and institutional forces for change." The 200
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