Commentary

Derek Edward Schloss
Traders Magazine Online News

What the !@#$ is a Security Token?

In this first part of a series, Mr. Schloss will begin to explain what a security token is by explaining how the building blocks of securities law are fundamental to understanding the tremendous value security tokens will one day unlock.

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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.