Commentary

Elaine Wah

Modern Markets, Modern Metrics - A Blog By IEX

In this blog by IEX's Elaine Wah, the newest public exchange looks to refute public claims that the metrics it uses are designed to inflate its own volume numbers and mislead people.

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June 30, 2002

NYSE and NASD Join War on Terrorism

By Staff Reports

The Big Board and the NASD are taking a patriotic step for trading pros who join America's war on terrorism.

The joint measure could mean financial aid for most classes of traders, including market makers and registered reps, who are on temporary leave with U.S. armed forces. Annual registration fees would be waived and pros could be eligible to receive some commissions while serving Uncle Sam. The families of pros serving in the military could be compensated.

The new policy would place traders in a special inactive status category, according to a filing on the new policy by the New York Stock Exchange with the Securities and Exchange Commission. It would also eliminate some of the associated costs for companies that retain employees in the military.

Under the policy, members of both the Big Board and Nasdaq would have to notify their organizations as soon as they had agreed to volunteer for military duty. For registered reps, the policy means they could split commissions with another individual who deputizes for them in their absence.