Specialists + Prop Trading (CNBC)

Discussion in 'Trading' started by listedguru, May 14, 2007.

  1. Did anyone happen to catch the piece about the specialists being able to trade prop for their own account or something? I only caught like the last 10 seconds. They said something about a new rule change the sec would have to approve. Did anybody catch it?

  2. NYSE specialists have been able to establish tax-segregated omnibus accounts since 1949 (with amends to Federal Reserve Reg's T and U after 15 years of lobbying). THAT'S where "the money" is.