The Securities and Exchange Commission will harm mutual funds should it force private venues known as dark pools to immediately announce they have executed orders, according to two former officials at the agency.
James Burton didn’t have a penny invested in gold of the $142.8 billion he managed as chief executive officer of the California Public Employees’ Retirement System in 2002. Why would he? The metal had been in a bear market for two decades.
The U.S. Securities and Exchange Commission’s plan to force financial firms to spend as much as $4 billion a year tracking equity orders and trades is too expensive and doesn’t need to gather data in real time, according to a former Nasdaq OMX Group Inc. executive.
Companies that issue securitized debt may have to change their credit-ratings provider at least every four years as part of a possible European Union compromise to promote competition in assessing such securities.
The U.S. Securities and Exchange Commission has spent 15 years remaking the stock market into 11 competing exchanges and hundreds of computer-driven traders. In the process it has virtually eliminated the traditional market makers who bought and sold stocks when no one else would.
Deutsche Boerse AG’s $9.53 billion all-stock purchase of New York Stock Exchange parent NYSE Euronext creates the world’s largest owner of equities and derivatives markets, and may spur additional mergers.
The investors who bailed out Knight Capital Group Inc. by purchasing $400 million in convertible securities are gaining control of the biggest trading partner for individuals in the world’s largest stock market.
Market fragmentation has led to a “crisis of trust” among investors that U.S. regulators could help remedy by forcing broker-dealers to send orders to public exchanges, said Thomas Peterffy , chairman and chief executive officer of Interactive Brokers Group Inc.