Nasdaq OMX Group Inc.’s Eric Noll, who oversaw the exchange’s U.S. trading business during a period when its reliability was criticized, left the company to become chief executive officer of ConvergEx Group LLC.
Heavy trading in Standard & Poor’s 500 Index futures and data communication problems between electronic exchanges helped trigger last week’s market plunge, according to Eric Noll , Nasdaq OMX Group Inc.’s executive vice president for transaction services.
Nasdaq OMX Group Inc. proposed an expansion on its markets of measures to halt stocks during periods of volatility, adding circuit breakers to all the companies it lists and a tiered system that pauses trading based on different percentage moves.
NYSE Euronext and Nasdaq OMX Group Inc., their share of American equity markets squeezed by venues that sprang up in the mid-2000s, told legislators today that too much trading occurs in dark pools, hurting investors.
Regulators should consider allowing smaller companies to pay broker-dealers to make markets in their shares as a way to spur trading and encourage initial offerings, NYSE Euronext and Nasdaq OMX Group Inc. executives said today.