Commentary

Traders Magazine Online News

Spoofing, Surveillance and Supervision

Jay Biondo, Product Manager - Surveillance at Trading Technologies, co-authored an article along with James Lundy and Nicholas Wendland, both of Drinker Biddle & Reath LLP, reviewing the CFTC's regulations and expanding efforts, 21st century surveillance and supervision, as well as strategic recommendations.

Traders Poll

Is the adoption of electronic trading in fixed income on par of that in the FX sector?




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February 1, 1998

NASD Reg Wants Year 2000 Compliance

By Staff Reports

NASD Regulation has come down firmly on member firms on Year 2000 compliance. The regulatory subsidiary of the National Association of Securities Dealers has demanded that members report on their progress in making their computer systems compliant.

Mary Shapiro, president of NASD Regulation, said in a prepared statement that it is essential that broker dealers' computer systems continue to operate successfully after Dec. 31, 1999.

"It is imperative that firms aggressively take on the Year 2000 challenge, and that the automated systems they rely on to meet their regulatory, market-participant and investor-protection obligations be Year 2000-compliant," she said.

NASD Regulation's request was announced in a so-called NASD Special Notice to Members. The notice stated that it is the responsibility of members to analyze the readiness of their own automated systems.