STA Fights for Soft Dollars
Traders Magazine, October 2004
Good research is part of best execution," so the trading world must retain soft-dollar arrangements, according to one trading industry group in a letter to the Securities and Exchange Commission. That's even though no request was made for comment on soft dollars. The STA is acting proactively because the commission has had a task force studying soft dollars. "In the current environment, some argue for the modification or elimination of soft dollars. The fact is that this payment mechanism, properly understood, allows investors to secure independent research and efficient trading simultaneously, and at a reasonable cost," stated Mary McDermott-Holland, chairman of the STA.
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