Dr. Levitt's Rx For A New Market

Securities & Exchange Commission Chairman Arthur Levitt Jr. has a vision for unifying America's fast-changing securities markets, boosting competition, and improving prices for the nation's investors. With the New York Stock Exchange and the Nasdaq set to convert to profit-driven, shareholder-owned businesses and electronic communications networks (ECNs) playing ever-larger roles, Levitt is trying to nudge the industry into a rational, high-tech future. The industry should transcend its many parochial interests and find common ground with the SEC chairman.

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