ECNs Could To Move Away From FIX Protocol: Tower Group
THE FIX FILES
The Central Limit Order Book some industry observers say the Nasdaq needs may originate from buyside firms if Nasdaq does not respond quickly enough to create one on its own. According to a report by Tower Group: ECN Proliferation: All Roads Lead To A Central Limit Order Book, the Nasdaq's October proposal for a Order Display Window doesn't go far enough. The Tower Group says that a small number of large buy-side firms are in the process of forming a loosely structured group to determine how to
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