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Article: Philly's Chief Warns About Future of Nasdaq and NYSE.(Meyer Frucher, Philadelphia Stock Exchange)(New York Stock Exchange )(Brief Article)
- Article from:
- Traders
- Article date:
- December 1, 2004
- Author:
CopyrightCOPYRIGHT 2004 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Market centers are going to disappear in the coming years unless they offer multiple services and change their governing structures. That's what several panelists said at a Pace University securities industry association conference.
"It is inevitable that there is going to be consolidation," said Ed Provost, executive vice president for business development for the Chicago Board Options Exchange.
"We're going to see a consolidation of markets," added Meyer Frucher, chairman and chief executive of the Philadelphia Stock Exchange. Speaking at the conference entitled "Surviving Increased Competition and Increased Scrutiny in the Securities Industry," ...