Commentary

Elaine Wah

Modern Markets, Modern Metrics - A Blog By IEX

In this blog by IEX's Elaine Wah, the newest public exchange looks to refute public claims that the metrics it uses are designed to inflate its own volume numbers and mislead people.

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April 1, 2004

Managers Accused of Front-Running

By Staff Reports

Knight Trading Group and its previous management are facing front-running charges filed by the Securities and Exchange Commission and the NASD. The regulators recently notified Knight that they intend to bring charges for front running that allegedly took place at Knight between 1999 and 2001.

The two executives named ran its trading unit. They are former president Kenny Pasternak, and former head of institutional trading John Leighton. The charges, which were part of a two-year investigation, originated in an arbitration filed with the NASD by the previous head of institutional trading at Knight, Robert Stellato.