Midwest Resurrects Concept Of Crossing Network, Plans Midday Cross Based On Simplex

AUTOMATED TRADING

The Midwest Stock Exchange (MSE) is researching a crossing network that would provide a single cross at midday for equities listed on the exchange. The MSE's research is being driven by its belief that exchanges will have to come up with new ways to compete for order flow in the face of market fragmentation.

The MSE is evaluating former New York Stock Exchange technologist Chris Keith's Simplex matching software for the system, which could be run on the DEC VAX/VMS processors that currently

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