Commentary

Ronald Jordan
Traders Magazine Online News

Understanding Your Data is No Longer Optional

In this contributed article from Global Markets Advisory Group, the advisory discusses the importance of data and how organizations should augment existing skill sets and capabilities to add a data-focused perspective to their operating fabric.

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Do you expect SEC Chairman Jay Clayton to push for regulation in the cryptocurrency issuance and trading markets?

Yes

74%

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5%

The CFTC will push for regulation

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August 31, 1998

OptiMark Faces Stiff Resistance From Big Board Over ITS

By Staff reports

The New York Stock Exchange is upping the ante in its effort to foil Jersey City-based OptiMark Technologies' plan to go live this fall with its OptiMark Trading System.

The Big Board claims parts of the OptiMark plan contravene core principals of the National Market System (NMS).

At issue are amendments to the Intermarket Trading System (ITS), proposed in July by the Securities and Exchange Commission, that would allow OptiMark to operate as a facility of the Pacific Exchange (PCX).

In a comment letter, the Big Board said several concerns must still be resolved.

The NYSE questions how the PCX and OptiMark platform will "reasonably probe" the PCX for unmatched orders before submitting the orders to the ITS.

In addition, the Big Board asks if a ceiling should be placed over PCX and OptiMark-generated orders, given that the planned platform, if unchecked, could become a system for routing orders to the Big Board and other exchanges.