NYSE Euronext Fine, Automated Systems, Cyprus: Compliance l Rediffpages l Gather

NYSE Euronext (NYX), the biggest U.S. exchange operator, will pay $5 million to resolve regulatory claims that the New York Stock Exchange violated rules by giving certain customers a head start on trading information.


The NYSE sent data through two proprietary feeds to paying customers before relaying the information to the so-called consolidated feed, which distributes trade and quote data to the public, the Securities and Exchange Commission said in an administrative order filed Sept. 14. Investigators are conducting similar reviews of other exchanges, according to two people with knowledge of the probes, which aren’t public.
The SEC penalty, the first of its kind against an exchange, comes as lawmakers and regulators question whether retail investors are being harmed in an increasingly fragmented marketplace of high-speed, computer-driven trading.

See more info: http://www.bloomberg.com/news/2012-09-17/nyse-euronext-fine-automated-systems-cyprus-talks-compliance.html » NYSE Euronext Fine, Automated Systems, Cyprus: Compliance l Rediffpages l Gather