Telephone Access Ruling Fuels NYSE Turf War


The Securities and Exchange Commission's ruling giving investors direct telephone access to the New York Stock Exchange floor is sure to inflame competition between $2 brokers and upstairs trading desks. Since the May 6th decision allowing floor brokers to communicate directly with non-member firms by phone, 59 have received the go-ahead to install outside lines.

By giving $2 brokers the right to accept orders directly from non-member firms, the SEC has opened a new pipeline for investors' o

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