Commentary

John Turney
Traders Magazine Online News

Foreign Exchange Infrastructure: Yesterday, Today and Tomorrow

In this exclusive to Traders Magazine, John Turney, Global Head of Outsourced FX at Northern Trust, discusses the evolution of the fx infrastructure and what is to come.

Traders Poll

What is your favorite movie about trading?

Wall Street

23%

The Big Short

13%

Margin Call

6%

Equity

0%

Trading Places

38%

The Wolf of Wall Street

8%

Boiler Room

7%

Arbitrage

0%

Too Big to Fail

5%

Free Site Registration

July 31, 1998

At Deadline - Section 31 Fees

By John A. Byrne

Backed by the trading community, House Rules Committee Chairman Gerald Solomon (R-N.Y.) is lining up support for his bill on Section 31 transaction fees. In the waning days of the current session of Congress, Solomon engaged House Commerce Committee Chairman Thomas Bliley (R-Va.) in dialogue about the fees on the House floor. The bill, H.R. 4213 co-sponsored by Rep. Robert Menendez (D-N.J.), seeks to cap the total amount of fees the Securities and Exchange Commission can accumulate on the sale of stocks. Earlier, Solomon presented his case to a Republican outfit known as the Conservative Action Team.

Another bill, sponsored by Rep. Michael Forbes (R-N.Y.) would seek to slash the level of Section 31. In an interview, he said the bill is of significant importance to the trading community in his congressional district.

ART-