b01 Background on markets
Background on markets
b01a 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)