Archipelago Closes Deal With PCX, Gears Up For Exchange Status
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CHICAGO and SAN FRANCISCO--Moving one step closer to what Gerry Putnam, chief executive officer of Archipelago, says will be his company’s "evolution to a higher life form," the ECN announced it had completed its transaction with the Pacific Exchange (PCX) to become the first totally open electronic stock exchange.
Subject to approval from the Securities and Exchange Commission, the new exchange will be dubbed the Archipelago Exchange and will act as the equities trading arm of the PCX. The
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