Commentary

Marianne Brown
Traders Magazine Online News

The Surprising Factor Financial Firms Need to Invest in To Accelerate Growth

When it comes to people, a firm's success relies on more than just the top contributors to the bottom line, according to FIS. In its latest report, shared with Traders Magazine, the firm says it actually found firms that are prioritizing investments in digital expertise are growing nearly twice as fast as their peers.

Traders Poll

In your opinion, what is the biggest hurdle facing the blockchain?

Cost of implementation

17%

Too many systems available

23%

Not applicable to my business

3%

Uncomfortable with the technology

33%

Nobody else is using it

23%

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November 1, 2001

SEC Gives Traders Regulatory Break

By Staff Reports

It was the least of most traders worries in the wake of the horrific attack on the World Trade Center.

Owing to the disaster, Nasdaq trading markets have had more time to comply with two new rules governing trading execution quality and order routing.

The Securities and Exchange Commission extended until the end of November the receipt of monthly reports from market centers under Rule 11Ac1-5, moving it back from September. The first reports will cover October trades.

Another mandate, Rule 11Ac1-6, requiring broker dealers to file reports on order routing practices, was also extended from October to November for transactions in the third quarter.

The agency's action was prompted by the attack of Sept. 11, which damaged Wall Street's trade processing capabilities while causing widespread sadness.

However, this is not the first time the agency has pushed back the deadlines, which is not an unusual occurrence in trade processing projects.

The order execution quality disclosure rule for listed securities had its third postponement this summer. At the prodding of the Securities Industry Association, the SEC postponed the initiation date by three months to Oct. 1.