Regulators Update Rules Governing Online Contracts

VENDOR STRATEGIES

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The National Conference of Commissioners on Uniform State Laws (NCCUSL) has been meeting in order to update a section of the Uniform Commercial Code (UCC) that will be sent to each of the 50 states for ratification when it is completed--a section that will affect the real-time, online data community in a number of ways. The new rules will determine the viability of market data contracts consummated online, and will set the amount of liability assumed by online quote vendors. The board hopes to

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