Commentary

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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March 1, 2004

Speaking Up for The Specialists

By Gregory Bresiger

Save the specialists because they are similar to members of Congress. That's according to Rep. Paul Kanjorski (D-Pa), who concedes many disdain the specialist. "The human involvement of the specialist in the trading process contributes to the smooth and efficient functioning of our capital markets," he said. Kanjorski said it is the "interaction of legislators with constituents" that improves legislation. "In the same way, the interaction of the specialists and floor brokers and others that should help produce the best price."