Background Markets

b01 Background on markets

Background on markets


b01a Stock exchanges

Stock exchanges


b01a1 BATS Trading BZX Exchange


b01a2 Direct Edge EDGX Exchange


b01a3 BATS and Direct Edge to merge


b01b CME Group


b01b CME Group


b01d Exchange for private firms

b01e Commodity Futures Trading Commission (CFTC)


b01f Markets are interlinked

Markets are interlinked


b01g Systemic lapses?

Last year, NYSE Euronext, which operates the New York Stock Exchange, agreed to pay $5 million in the first fine ever levied against an exchange by the securities regulator. NYSE Euronext, which didn’t admit or deny wrongdoing, was accused of favoring certain customers by giving them trading information ahead of others through proprietary data feeds. In May, the SEC fined Nasdaq $10 million for poor systems controls and decision-making tied to its handling of last year’s Facebook Inc. public offering, which left Wall Street firms with about $500 million in losses. Nasdaq neither admitted nor denied wrongdoing in the matter.

SEC enforcement officials have also been investigating whether some stock exchanges have provided high-speed traders “order types”—commands that tell an exchange how to handle an order—that can give the traders advantages over other investors.



b01h The Fed and the market


b01i US regulator approves ICE takeover of NYSE-Euronext


b01j Stock market complexity


b01k NYSE continuity plans point to the future (Jim Kim, Fierce Finance, Aug 2013)


b01l NASDAQ files for greater policing role of its stock exchange


b01m The Ghost Exchange (documentary about HFT)