Fest, Glen
June 2005
Bank Technology News;Jun2005, Vol. 18 Issue 6, p42
Trade Publication
This article reports that the anti-New York Stock Exchange (NYSE) vitriol of Archipelago's Jerry Putnam is over, now that ArcaEx is getting hitched with the Big Board. But competitors aren't ready to succumb to niceties or surrender the entire exchange market to NYSE or the new NASDAQ, post-lnstinet merger. In the eight years since he co-founded Archipelago and the four since it morphed into ArcaEx a totally open, all-electronic stock market created in 2000, Putnam has railed against the regulatory favoritism and protectionist machinery he and other automated trading proponents say allowed the Big Board to live in an insulated cocoon of inefficiency and stubborn elitism.


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