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David Weisberger
Traders Magazine Online News

Stop the BS & Promote Real Transparency!

In this shared blog, David Weisberger says a recent WSJ article is wrong and that traders do need to purchase faster and more comprehensive market data to avoid being fined for violating "Best Execution" obligations.

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April 1, 2003

STA Is Optimistic On SEC Comments

By Gregory Bresiger

The Security Traders Association is hopeful this will be the year the regulators accept its case on access fees. "I think that some of the recent comments coming out of the SEC give us hope that they're going to do something," said John Giesea, president of the STA.

That something would provide a fairer environment for the STA's members, Giesea says. Comments attributed to Annette Nazareth, longtime director of the SEC's Division of Market Regulation, have led to the STA's enthusiasm.

The STA either wants access fees abolished or its dealer members to have the same rights as ECNs - the right to impose these fees themselves.