A New Golden Age
THE DALY CLOSE
Who could blame anyone for thinking this way? The NYSE acquired the Archipelago Exchange and Nasdaq bought up the Brut and Inet ECNs. According to analysts, both exchanges control the same level of order flow that they did prior to Regulation ATS in 1998, which created ECNs.
However, the regional exchanges and ECNs aren’t fading away. In fact, they might be on the verge of a new golden age. Feeding this possibility isn’t Reg NMS, but the fact that all of the US equities exchanges have
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