Commentary

John Turney
Traders Magazine Online News

Foreign Exchange Infrastructure: Yesterday, Today and Tomorrow

In this exclusive to Traders Magazine, John Turney, Global Head of Outsourced FX at Northern Trust, discusses the evolution of the fx infrastructure and what is to come.

Traders Poll

What is your favorite movie about trading?

Wall Street

23%

The Big Short

13%

Margin Call

6%

Equity

0%

Trading Places

38%

The Wolf of Wall Street

8%

Boiler Room

7%

Arbitrage

0%

Too Big to Fail

5%

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.