Commentary

Steve Grob
Traders Magazine Online News

The Periodic Table

Fidessa's Steve Grob has written a response to Marcus Ferber writing to ESMA condemning periodic auctions. The blog strongly criticizes Ferber's approach, and looks at the problems behind the "lit is good and dark is bad" attitude.

Traders Poll

Do you think that NY AG Schneiderman's probe into crypto exchanges will curtail growth and trading?



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February 1, 2003

The Latest on Section 31(a)

By Gregory Bresiger

Now it will be sometime in the next two months when the Section 31(a) fee is expected to be cut, according to SEC and securities industry officials.

"It should happen by March," said a spokesman for the Securities Industry Association. That's when lawmakers will finally have straightened out the SEC's budget - they still hadn't passed a budget for the agency by the end of last year - and when SEC officials will then be able to figure out how much the tax can be cut.

The fee, which is solely designed to fund some of the costs of the SEC, recently was at $30.10 per one million dollars, which traders have complained is far higher than it should be. Many are hoping that the rate could be dropped to about $25.