March 5, 2008
SEC Trial Against Specialists May Turn on Accuracy of Data
The accuracy of NYSE trading data is a key issue in the SEC administrative proceeding against 14 NYSE traders charged with illegally profiting from trading ahead of customers and interpositioning between customer trades. The defense introduced a 12-minute tape that tracks trading in one stock and, according to the defense, shows that the NYSE erroneously reported data for 20 of the 73 trades on the tape. WSJ, NYSE Data at Issue in Traders Case.
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