Making History

For the first time, broker-dealers personally have to deal with the new Regulation NMS environment, and most market participants are probably whistling past the graveyard, hoping the markets operate as they should.

The industry has already weathered Y2K and quote decimalization, and I'm sure Reg NMS will go off without a hitch. Of course, part of me also thinks that more firms will declare "self help" than attendees at a Deepak Chopra seminar.

I wonder where Donaldson is today—could he be looking

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