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Strategies & Market Trends : The Final Frontier - Online Remote Trading

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To: Morpher who wrote (8334)	7/25/2000 8:33:13 PM
From: Morpher	Read Replies (1) of 12617

SEC Proposes Disclosure Rule on Broker Order-Routing quote.bloomberg.com Bloomberg reports that the SEC proposed a rule that would require brokers to disclose on the Internet quarterly how often they route their customers' stock orders to other firms for execution. In an opening statement, Chairman Levitt noted that 85% of Nasdaq market orders are routed to markets that are not quoting the best price. The disclosure plan enjoys broad support from mutual fund companies and the SIA. In addition ECNs would have to issue monthly data on speed of execution, price improvement, and rates of filling customer orders at specified prices.

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