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NYSE Group planning midday auction for its stock markets

New auction seen as draw for big investors to trade blocks of stock

NYSE Group planning midday auction for its stock markets

The New York Stock Exchange plans to ask regulators for permission to introduce a midday auction as another tool to draw trading away from private venues such as dark pools, according to people familiar with the matter.

Both the NYSE Group, which is owned by Intercontinental Exchange, and Nasdaq OMX already operate an opening and a closing auction for their markets.

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