ECNs Lobby Congress To Re-Think SuperMontage
ATS/ECN UPDATE
ECNs took their case to Congress last month, arguing that a unified display of stock quotes, otherwise known as a "time priority central limit order book," would be anti-competitive and end recent innovation that has benefited the industry.
"ECNs have successfully competed on Wall Street and now they must compete in an even older arena, the halls of Washington," said Kevin Foley, CEO of Bloomberg TradeBook in his March 29 testimony before the House Commerce Committee. "The technology of today
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