Commentary

Jared Dillian
Traders Magazine Online News

Was it Worth It?

In this piece from 10th Man, author Jared Dillian discusses how the ETF revolution is less about ETFs and more about indexing; about how people have come to view stocks less as stocks and more as blobs of stocks.

Traders Poll

Would you feel better if the Chicago Stock Exchange were purchased by U.S. firm or consortium rather than a foreign one?

Yes

73%

No

4%

Doesn't matter to me

23%

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August 31, 2004

Is SEC Backtracking on Reg NMS?

By Gregory Bresiger

The SEC has been criticized by a market structure expert for making an exception to the trade-through rule. This would allow an automated market to trade through a non-automated market for up to a certain sized order. "The Commission seems to have backtracked on their Regulation NMS proposal," says Junius Peake, a professor at the University of Northern Colorado. "They have changed their definitions from an automated market to an automated quote." Peake went to work on Wall Street in 1951. "One of the first things I was taught was the difference between asking for a quote for a security, and asking for the market' for a security," he says. [See, tradersmagazine.com]