Instinet Mulls New Morning Cross, Priced On NYSE Weighted Average
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In an effort to attract more business, Reuters Holdings PLC's Instinet Corp. subsidiary may soon test a morning cross for its Crossing Network, say sources close to the company. The price at which equities would be crossed would be determined by a "weighted average" of prices from that day's trading.
Sources familiar with Instinet's intentions say that a morning cross could prove attractive to the Crossing Network's institutional clientele, which seeks to track stock averages like the S&P 500. An
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