|
 |
|
|
|
|
|
|
Friday April 08, 08:16
|
|
SEC’s trade-through-rule plan undergone splitting voting
(by Helen Snow)
|
|
Securities and Exchange Commission Chairman William Donaldson made an effort to implement a trade-through-rule plan passing the objections of Republican commissioners the criticism from allies in Congress.
At a yesterday’s tense meeting, the SEC voted a splitting resolution about the pro-investors offer to buy or sell stock filled at the best price. The order-protection regulation is expected to cover all marketplaces and enable investors to get the best price.
The New-York Stock Exchange and electronic markets such as Nasdaq are protesting this rule. Despite the fact that the SEC’s move seems as a win for the NYSE as it had feared a stricter proposal started by the SEC last year, the reform in general leave its floor brokers and some other services without piece of the pie. Nasdaq, on its turn, would feel limited with marketplaces.
In addition to Donaldson’s all troubles with businesses, the severe congressional criticism of the splitting voting added fuel to the fire.
However, Donaldson’s position will remain comparatively strong and stable so far he enjoys the backing from the White House. Yesterday, Administration spokesman Trent Duffy said with regard to the vote, "we support the independence of the SEC," noting that "the president continues to have confidence in Chairman Donaldson."
Donaldson says the new "trade through" rules are designed to adjust best prices and electronic-speed trading.
|
|
All world news
|
|
|
|
|
|
|
|
|
|
 KEYWORD SEARCH |
|
|
|
|
|
SUBSCRIPTION |
|
|
|
|
|