The New York Stock Exchange and a group of money managers are lobbying U.S. securities regulators to abolish the practice of paying rebates to large brokers to attract trades to stock exchanges and other trading platforms, according to three people familiar with the matter.
A painting of the New York Stock Exchange in its heyday, depicting men buzzing around trading posts, hangs in the Jersey City office of William O’Brien. An inheritance from his father, it represents a way of life the Direct Edge Holdings LLC chief executive officer has spent a career helping to dismantle.
Bats Global Markets Inc.’s merger with Direct Edge Holdings LLC will put a broker-owned stock exchange operator in the top ranks on Wall Street for the first time since NYSE Euronext and Nasdaq OMX Group Inc. went public.
James “Whitey” Bulger, the former fugitive Boston gangster found guilty in August of 11 murders, is set to learn whether he will be sentenced to perhaps one or even two life terms as family members of his victims look on.
Regulators could stem the migration of U.S. equity trading to dark pools by coordinating a cut in trading fees, an action exchanges are unlikely to take on their own, according to one of the biggest high-frequency firms.
James “Whitey” Bulger, the former fugitive who ran a criminal gang in South Boston from the 1970s to the early 1990s, faces spending his life in prison after being convicted in a racketeering and murder conspiracy.