The New York Stock Exchanges’s "trade-through" rule is outdated and should be nixed, a Republican member of the U.S. House of Representatives wrote in a letter to SEC Chairman William Donaldson last week.

Richard Baker of Louisiana, who chairs the House Capital Markets Subcommittee, said that the trade-through rule should be changed because it enables floor specialists to monopolize any stock listed on the NYSE at the expense of electronic exchanges such as Instinet or Archipelago.

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