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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August 31, 1998

Hidden Under Lock and Key of NASD!

By Staff Reports

In an interesting aside to the continuing debate about the Short Order Execution System, the National Association of Securities Dealers has made it clear where it wants SOES terminals placed strictly beyond the physical touch of the public customer.

Rules currently contain a provision that requires SOES order-entry firms to maintain the physical security of Nasdaq equipment located on the premises of the broker dealers to prevent unauthorized entry of information into SOES. According to an NASD Notice to Members last month, the NASD has, to date, interpreted this provision as barring firms from providing direct electronic entry to public customers.

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