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For more than 150 years the "beacon of free markets", the New York Stock Exchange operated as a cartel and fixed prices that its members could charge. Only in 1975 under the pressure from the Department of Justice and the Securities Exchange Commission did the "Big Board" eventually change its fixed commission regime.
For more than 150 years the "beacon of free markets", the New York Stock Exchange operated as a cartel and fixed prices that its members could charge. Only in 1975 under the pressure from the Department of Justice and the Securities Exchange Commission did the "Big Board" eventually change its fixed commission regime.