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Monday, December 20, 2004

Specialists' Revenues Plunge



Looks like NYSE specialists are aboard a sinking ship. They announced today that collectively they lost $12 million during the third quarter (read about it here: http://tinyurl.com/6dbpa).

And worse yet, nine-month cumulative profits during the period totaled $3 million (after taxes), down from $138 million for the industry during the year-ago period.


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