NYSE Specialist Fined

Discussion in 'Trading' started by frezza, Feb 28, 2003.

  1. frezza


  2. i see that it is a FORMER specialist....i wonder what stocks this guy handled.
  3. thesage


    $25,000 to $75,000 in fines for front running customer orders for 3 years and a specialist who traded with the floor versus his own account ignoring DOT orders. What´s new. A guy caught dealing gets 3-10 years in jail. These guys get a suspension of 1 month and a pittance of a fine. Incredible. Someone has to shut this down already.
  4. 25K is what they can make in a couple of trades with the prop info they have. Imagine cuffing a 3000 lot order 10 cents everyday for x months. I can't believe it. A lot of guys in coffee pits got caught by CFTC, suspended for 6 months bail money in the six figures. Now that is an effective fine vs. the NYSE. The world puts its stock on us !!