Commentary

Tim Quast
Traders Magazine Online News

We're All HFTs Now

In this guest commentary, author Tim Quast looks back at the history of HFT and how the market has evolved to where many firms now fit the definition of high-frequency trader.

Traders Poll

Are you in favor of a pilot program and examination of the rebate system by the SEC?




Free Site Registration

June 30, 2003

Stiffer Big Board Fines

By Gregory Bresiger

Big Board rules violators will be more than just nicked under a proposed new fine schedule recently submitted to the Securities and Exchange Commission. Fines for minor violations would increase by 100 percent to 150 percent under the proposal by the New York Stock Exchange. First-time fines would typically increase from $500 to $1000 or from $1,000 to $2,500. Big Board officials say the fines, which were put together after consultation with several NYSE commitees, are needed because the current fines aren't enough of a deterrent. However, some small firms say the new fines would be excessive and unfair.