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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In his first public speech, SEC Chair Jay Clayton deviated from his prepared remarks and offered his own "off the cuff" comments on market issues. Do you like this change of pace?




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March 15, 2007

NYSE Specialist Exonerated

By Peter Chapman

The federal government's criminal case against 15 individual New York Stock Exchange specialists charged with improper trading practices continues to unravel.

Last month, a federal judge threw out the conviction of David Finnerty, formerly with Fleet Specialist (now Banc of America Specialist), saying the federal prosecutor failed to prove its case. The decision brings to 10 the number of specialists who have either been acquitted or had their charges dropped. Four have been convicted and sentenced to prison. One remains a fugitive.

Several Big Board specialists remain subject to civil charges being pressed by both the NYSE and the Securities and Exchange Commission.