Sprecher of ICE Says Banning Maker-Taker Would Simplify Trading
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Jeff Sprecher, whose purchase of NYSE Euronext made his IntercontinentalExchange Group Inc. the biggest owner of U.S. stock markets, said banning the pricing system that prevails on exchanges would simplify them.
The protocol of paying some brokers for providing standing orders to buy and sell shares while charging others to trade against them, known in the industry as maker-taker, could be prohibited without excessive deliberation, Sprecher said today at a Credit Suisse Group AG conference in Florida.