Commentary

BRAVE NEW WORLD
Dan Mathisson

Uncanny Resemblance

The line between exchange trading and off-exchange trading has blurred to the point where there really isn’t that big a distinction anymore.

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The SEC recently extended the Reg SCI comment another 45 days until June 8. Is this enough time to gather comments on the proposed rule?



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Photo Gallery January 1, 2005

GENERAL RECEPTION I

DALLAS SECURITY TRADERS ASSOCIATION

<p>Randy Kudlata, Merrill Lynch, New York; Bill Cronin, Direct Trading</p><p>Institutional, Dallas; Tom Wilbeck, Archipelago, Chicago.</p> <p>Ila Jehl, Nichole Ake, both Penson Financial, Dallas; Sean Malloy, NYFIX,</p><p>New York.</p> <p>Ila Jehl, Nichole Ake, both Penson Financial, Dallas; Sean Malloy, NYFIX,</p><p>New York.</p> <p>Jessica and Jeff Martin, Scott and Valerie Howell, all ATD, Mt. Pleasant.</p>
<p>Tory Game, Seton Securities, Tinton Falls; Fuji Bianchi, Hudson Securities,</p><p>Jersey city; Diane Powell, Maxim Group, New York.</p> <p>Jamie De Santos, Jefferies & Co., New York; Sue Miller, Citadel Execution</p><p>Services, Chicago; Dana Peak, vFinance, Boca Raton; Jeanette Wilkinson,</p><p>Jefferies & Co., New York.</p> <p>Chris O’Donnell, KWS, Mike Matousek, Terra Nova Institutional,</p><p>both Chicago; Donna Binion, Lighthouse Capital Management, Houston;</p><p>John Logan, Tradestream Global, Dallas.</p> <p>Richard Fremont, LaBranche Financial Services, New York; Lucio Iacobelli, UBS</p><p>Capital Markets, Jersey City; Randi Feldman, Stern Agee Leach, Boca Raton;</p><p>Carl Steiniger, Ryan Beck, New York.</p>
<p>Terry Dolce, New York, Seth Willliams, Dallas, Tom Martin, New York, all ITG;</p><p>Diane Barjanier, Jefferies & Co., Dallas.</p> <p>Dave Wood, Bobbie San Born, Ann Hughes, Bob Hendry, all Simmons & Co.,</p><p>Dallas.</p> <p>Scott Mullins, Southwest Securities, Dallas; Fuji Bianchi, Hudson Securities,</p><p>Jersey City; Rolf Edelman, Needham & Co., New York; Jamie Vollaro, Hudson</p><p>Securities, Jersey City; Michelle Falcone, Southwest Securities, Dallas.</p> <p>David Hilliard, Wachovia, Baltimore; Arthur Montuoro, Don Cottage,</p><p>both Pipeline Trading Systems, New York.</p>
<p>Chris Marino, Terry Dolce, both ITG, New York; Mark Merricks, AIM Capital</p><p>Management, Houston; Anthony Pignio, SG Cowen, Sujai Bharucha, ITG,</p><p>both New York.</p> <p>Laureen Brenner, Cantor Fitzgerald, Linda Marlow, Jefferies & Co.,</p><p>Dionne Willett, JonesTrading, Steven Brenner, Cantor Fitzgerald, Jill Kreutz,</p><p>JonesTrading, all Dallas.</p> <p>Wendy Beaver, Prime Executions, Bill Flanagan,</p><p>NYSE, both New York.</p> <p>John Logan, Tradestream Global, Dallas;</p><p>Randall Hopkins, Nasdaq, New York.</p>
<p>Chris Capillo, Tradition Asiel, New York;</p><p>Sean McCaffrey, Jefferies & Co., Dallas.</p> <p>Julie Christian, guest, Chris Halverson, Capital</p><p>Institutional Services, Dallas.</p> <p>Joan Caputo, Brazos Capital Management, Dallas;</p><p>Richie Russo, Pershing, Jersey City.</p> <p>David Meney, Southwest Securities, Dallas; Michael, Marchand, Stephens,</p><p>Little Rock; Mark Esposito, Fulcrum Global Partners, New York.</p>
<p>Joe Tama, Merrill Lynch, John Dalton, Westminster Securities, both New York;</p><p>Nathan Collins, Wedbush Morgan Securities, Los Angeles.</p> <p>Greg Teller, Marty Yanda, Jamey Gallemore, all Jefferies & Co., Dallas.</p> <p>Mike McCormick, Roark Siko, both Archipelago, Chicago; Tony Sanfilipo,</p><p>Jefferies & Co. New York.</p> <p>Lee Cochran, Interstate Group, Charlotte; John Borucke, Prudential Securities,</p><p>New York; Steve Mahan, Weeden & Co., Greenwich.</p>
<p>Drew and Monica Goss,Chicago; Rick Andrews, Dallas, all JonesTrading.</p> <p>Robert Dobbs, Ameritrade, Omaha; James Duncan, Canaccord Capital,</p><p>Toronto; Ovidio Montemayor, Ameritrade, Omaha.</p>

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