New York Stock Exchange Auction System Under Fire
EXCHANGE TECHNOLOGIES
NEW YORK--The open-outcry specialist system for auctioning stocks on the floor of the New York Stock Exchange (NYSE) came under fire last week, and improved technology could be part of the scandal-plagued exchange’s answer to its critics.
According to news reports last week, several head traders at large customer firms such as Fidelity Investments, American Century Investments, and Vanguard Group have been lobbying for a switch to an automated execution platform similar to that of the Nasdaq
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