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.

Traders Poll

Do you think it's a good idea to conduct an access fee pilot to assess the pricing models used by many trading venues?

Yes

67%

No

0%

Should have had a pilot program a long time ago.

33%

Free Site Registration

November 1, 2002

Phantom Sales

By Editorial Staff

Swift Trade Securities USA and its president, Peter Beck, have reached a settlement with the NASD, requiring the two to pay a $75,000 fine from "fictitious" wash sales. They were also required to pay back $26,000 in profits from the transactions. Joseph Ianni, Swift's vice president of compliance, was also fined by the NASD for inadequate supervision of what the NASD said was a "deceptive trading practice." According to the regulators, Swift, a Toronto brokerage, operated a computer software program that simultaneously routed offsetting limit orders for QQQs to the Island ECN.

ART-