Calpers Blasts Big Board Call For Off-Exchange Trading Debate
THIS WEEK'S LEAD STORIES
The $70 billion California Public Employees' Retirement Fund System (CalPERS) blasted back last week in a letter aimed at killing a recent New York Stock Exchange initia- tive -- California State Senate Resolution No. 21 -- to open public hearings on off-exchange trading practices, which CalPERS regularly engages in.
In its letter, addressed to Manhattan Beach, Cal., senator Robert Beverly, CalPERS called Wall Street and the Big Board "bloated" and "obsolete." The NYSE initiative, introduced in
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