Groovy Grasso Gets a Buzz Cut

The head of the NYSE plays catch-up with twentysomething rival Matt Andresen, chief of Island electronic trading system.
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We've heard about all the radical changes in store at the

New York Stock Exchange

, but has the effort to keep up with Wall Street's Young Turks gone to Big Board boss

Dick Grasso's

head?

About three weeks ago, Grasso began sporting the same peach-fuzz 'do as twentysomething

Matt Andresen

, the precocious chief of the successful

Island

electronic communications network, the kind of pesky trading operation that has dragged the NYSE into hair-raising competition.

Even before Grasso's buzz cut, though, the two had more in common than you'd imagine. Here's our list.

  • Both dream of running a private stock exchange.
  • Both stand to make a fortune if their exchanges go public.
  • Both are trying to put the Nasdaq out of business.
  • Grasso wants to buy an electronic trading system; Andresen runs one.
  • Grasso wants to trade Nasdaq stocks; Andresen already does.
  • Grasso is considering after-hours trading; Andresen has had pre- and postmarket trading since last year.

Thus far, though, there are no reports of Grasso sightings in the

Woodstock '99

mosh pit or at an East Village tongue-stud shop, but there are some things he could do to make him fit in better among Andresen's crowd:

  • Grow a goatee.
  • Become a unit of a brokerage that's being investigated by the U.S. Attorney's office.

Do you have any other suggestions for Grasso? Let us

know, and please include your full name.