Moves are underway to place control of a key piece of plumbing inside the stock market in the hands of an exchange that regulators have called into question as long standing concerns are raised regarding potential conflicts of interest. Sources indicate the process has come down to two bidders: The NASDAQ, which is said to have operated the SIP for decades, and a second bidder.
SIP vote to take place on October 8
A vote to determine control of a little known contract to disseminate stock quotes to investors, simply called "the SIP," or the Security Information Processor, will take place October 8, according to sources familiar with the situation. NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) was recently awarded...
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