Vying for volumes

Exchanges

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With so many little black clouds hovering over it – a guilty plea of insider trading made by an ex-floor clerk, a class-action lawsuit led by a seat-holder and the attentions of New York attorney-general Eliot Spitzer – the New York Stock Exchange (NYSE) could use a ray of sunshine.

One of the positives on its horizon is the proposed merger with Archipelago, the Chicago-based electronic trading platform that owns the Pacific Stock Exchange – the fourth largest exchange by volumes for US

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