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Category Archives: Securities Exchanges

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Takeaways from the NYSE glitch

Posted in Compliance and Supervision, Cyber-Security, Securities Exchanges

Earlier this week, the New York Stock Exchange halted trading for nearly four hours due to a technical “glitch”.  While the shutdown caused a lot of uncertainty among investors and ruffled some feathers on Wall Street, there are some important takeaways for securities practitioners. This was a reminder of the importance of data security.  The… Continue Reading


Posted in Securities Exchanges, SROs

One SEC commissioner is pushing for a comprehensive review of the structure and regulatory regime of United States financial markets, including SROs. The SEC is serious about looking comprehensively at market structure issues, and must be willing to review its existing rules to see their impact on market structure.  One item is the regulatory framework… Continue Reading

What Are the Problems with Ticks and Minimum Spreads?

Posted in Capital Formation, Securities Associations, Securities Exchanges

A senior Congressman has indicated that he wants to see a wide-ranging pilot program to examine different minimum spreads for different stocks.  He believes that such a program would allow the SEC to determine if tick sizes in equity markets are appropriate. Tick sizes are increments whereby a stock price may move, and, currently, that size is $0.01. … Continue Reading

Are Exchanges In The SEC’s Crosshairs?

Posted in SEC Enforcement, Securities Associations, Securities Exchanges

Statements by certain United States Senators have indicated that they hope the SEC is cracking down on and scrutinizing the activities of the national securities exchanges and associations. Such statements were made after the SEC’s fine of $5 million fine against NYSE. The SEC had previously announced that the NYSE agreed to pay $5 million to settle claims over its alleged… Continue Reading