Exchanges Ask SEC Approval Of Electronic Membership
THIS WEEK'S LEAD STORIES
In a bid to attract greater order flow, especially from small and medium-sized brokerages, the Pacific Stock Exchange has proposed to introduce electronic access membership. Called Automated System Access Privilege (ASAP), the new membership status would allow limited privileges and trading access for about a quarter the cost of a seat on the exchange.
If approved by the Securities and Exchange Commission, the PSE's ASAP could become the third exchange to offer electronic membership in the U.S
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