OTHER NEWS - Dec. 8, 1995
<i> Times Staff and Wire Reports</i>
SEC Issues Rule Proposal for New Nasdaq System: The Securities and Exchange Commission has issued a controversial rule proposal for a new trading system that seeks to give small investors on the Nasdaq stock market access to better prices. Nasdaq has been publicly prodding the SEC for months to adopt the proposal. The plan for the new Naqcess system will appear for public comment in the Federal Register in the next couple of days, said Robert Colby, the SEC’s deputy market-regulation chief. If adopted, it would replace the Small Order Execution System, sharply criticized by Nasdaq’s parent organization and large brokerage firms for allowing some small dealers to preempt trades by small investors.
