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

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To: TFF who started this subject	5/13/2003 2:39:16 PM
From: TFF	of 12617

CELL! CELL! CELL! NYSE OKS PHONES Tue May 13, 5:02 AM ET Add Local - New York Post to My Yahoo! The pandemonium on the New York Stock Exchange (news - web sites) floor will get even louder soon when traders start using cell phones. The U.S. Securities and Exchange Commission (news - web sites) has approved a rule change that will allow the use of cell phones on its already noisy and frenetic trading floor, reversing a prior ban, a NYSE spokeswoman said yesterday. Floor brokers, who execute trades on the exchange floor, will be able to talk to customers using authorized and issued cell phones. The phones will be introduced through a six-month pilot program, but the exchange has not yet set a starting date. Floor brokers will be able to take customer orders on the cell phone but will still have to enter them into an electronic system to make sure there is an audit trail available for the order.

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