NASD Clears SelectNet Name For Planned Instinet Rival
THIS WEEK'S LEAD STORIES
The National Association of Securities Dealers last week approved the name but not the pricing of SelectNet, a planned screen-based network for the buying and selling of equities. SelectNet, which is based on the NASD's Order Confirmation Transaction (OCT) system, could provide competition for Reuters Holdings PLC's Instinet Corp. subsidiary, which operates an execution system that allows securities firms and institutions to negotiate and trade stock in large volume via terminals.
The NASD
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