STA Thoughts on the Tick Pilot It is a fundamental belief of the Security Traders Association that market structure changes should be based on empirical data, according to STA president and CEO Jim Toes, who says the current one-size-fits-all equity market structure does not meet the liquidity needs of many small-cap public companies. As such, […]
Tag: Security Traders Association
STA conference coverage
SEC’s Gallagher calls for markets review, frets about bond liquidity WASHINGTON — A commissioner at the Securities and Exchange Commission on Wednesday said the stock market structure needs a thorough review and he stated concerns about the bond market. Read more here.
STA in Tabb Forum
Good Luck, Chair White: Advisory Committees and Roundtables in the 21st Century Among SEC Chair Mary Jo White’s equity market structure agenda is a plan to create an advisory committee. While this can be an important vehicle for the regulator to gather industry input, Chair White faces some challenges in getting the committee off the […]
NY Post recognizes Jim and the STA
Wall Street looks up to the Navy, not fellow traders Who are Wall Street’s heroes? Read more here.
STA Board Urges SEC to Conduct Holistic Review of Market Structure
Also Criticizes Financial Transaction Tax; and Highlights Agenda for STANY Conference NEW YORK — April 9, 2014 — In a letter to its members, the Security Traders Association Board of Governors recommends a holistic review of market structure, describes a financial transaction tax idea with a dual mandate as, “unrealistic” and highlights its New York […]
STA Comments On Tick Sizes
Wider ‘Tick Sizes’ Gather Momentum Citigroup Sends SEC a Plan for a Pilot Program Read the article here.
Security Traders Association (STA) Comment on Today's SEC Roundtable Discussion on Decimalization and Its Effect on Capital Formation
The Security Traders Association (STA) has issued the following comment on today’s SEC Decimalization…
Wall Street Must Educate Main Street
Longtime Jones Trading sales trader Tom Carter wants to be an educator. Jones, the incoming chairman of the Security Traders Association, is worried that investors misunderstand what traders do. Continue reading here
Do We Need a Market 'Kill Switch'?
While the experts agreed that a kill switch is a smart idea to keep up with technological advances, it shouldn’t be the only line of defense. “Kill switches shouldn’t replace internal risk controls, they should be a last resort for the firms,” said Jim Toes, president and CEO Security Traders Association. “They should be looking […]
Knight: We ‘Immunize’ Retail Investors
WASHINGTON, D.C. – Knight Capital “immunizes” retail orders from “some of the activities” that take place at marketplaces where professional trading firms try to outrace each other to get to an order, the market maker’s chief executive said Friday. When a market maker takes in order flow from retail brokerages, the orders do not go […]
SEC'S Paredes: Fragmentation – Or Choice?
WASHINGTON, D.C. — A dozen national exchanges. More than 40 dark pools and alternative venues. A couple hundred internal broker order-matching systems. That, compared to a quarter century ago, when three national exchanges handled almost all order flow, is now often called ‘’fragmentation’’ by trading firms. But should it? Not necessarily, Securities and Exchange Commission […]
STA Expands to Latin America
WASHINGTON, D.C. — The Security Traders Association is heading into Latin America. The move comes through the Security Traders Association of Florida, which is giving birth to a chapter that will recruit members from Colombia, Peru, Chile, Brazil and Mexico. View the article here
Brokers Need More Discipline to Avoid Trading Errors, Finra Says
Debacles like Knight Capital Group Inc.’s August trading loss will be avoided if brokers exercise more vigilance overseeing their risk controls, according to the head of the Financial Industry Regulatory Authority. Rules requiring brokers to check orders before sending them to markets to ensure they’re correct and don’t exceed capital and credit thresholds went into […]
U.S. regulators probe "mini-manipulation" of stocks, options
(Reuters) – Regulators are getting more complaints about the alleged “mini-manipulation” of stocks so that favorable positions can be established in stock options, the head of the securities’ industry watchdog organization said on Thursday. Some firms appear to have algorithms – the computer code that carries trading instructions – that move the underlying equity, said […]
'More Hair-Triggered’ Kill Switches Needed, Ketchum Says
WASHINGTON, D.C. — Faster ‘kill switches’ are needed to prevent market disruptions such as the August 1 flood of erroneous orders from market maker Knight Capital, the head of the independent regulator of brokers said Thursday. ”Kill switches have to be far more hair-triggered than they have been in the past,’’ said Richard Ketchum, chief […]
Reed: Technology Won’t Slow Down. Recalibration Needed.
WASHINGTON, D.C. — Shortly before he would lead a Senate Banking Committee hearing into computerized trading, Senator Jack Reed told the Securities Traders Association that technology has to be looked at closely because the change it is bringing is speeding up. The examination into computerized trading is necessary to prevent, like the stock market crash […]
STA Discusses Top Priorities Over the Next Year
“Explaining the dangers of penny pricing and the benefits of minimum price variations (MPVs) are keys to better market structure, says the incoming Security Traders Association chairman.” View the entire article here
Security Traders Association CEO on Knight, Rules
Jim Toes, Security Traders Asociation(STA), discusses Knight Captial Group & SEC/SRO rule making process.
Chief Executive of Security Traders Association Urges Regulators to Slow 'New Rules' Process
Says “Speed of Changes” Is Impacting Trading Issues NEW YORK, NY — 08/05/12 — Speaking at the 2012 Security Traders Association (STA) Wisconsin Convention this weekend, Jim Toes, president and CEO of the STA, urged regulators to limit the number of rule changes market participants are asked to absorb in short periods of time to […]
STA Urges SEC to Launch Decimalization Pilot Program
NEW YORK (July 17, 2012 ) — The Security Traders Association (STA) has urged the U.S. Securities and Exchange Commission (SEC) to initiate a pilot program to determine if Minimum Price Variations (MPVs) will add liquidity to the market for emerging growth companies. The STA comment letter follows passage in March of the Jumpstart Our Business […]
The Security Traders Association (STA), Announces 2012 Board of Governors
NEW YORK, NY–(Jan 6, 2012) – The Security Traders Association (STA), a leading trade organization for individuals in the securities industry, today announced new members to its Board of Governors for 2012. At the organization’s 78th Annual Market Structure Conference & Business Meeting, the following were elected to serve as Officers: Chairman: Jennifer Green Setzenfand, […]
Security Traders Association Responds To FINRA's Rule 5210
NEW YORK, Oct. 26, 2011 — Last week, the Security Traders Association (STA) filed its comment letter (http://bit.ly/STA_IOI) with the Financial Industry Regulatory Authority, Inc. (FINRA) regarding the Proposed Amendments to Rule 5210 Regarding Publication of Indications of Interest, commonly referred to as “IOIs.” In May 2009, FINRA released Regulatory Notice 09-28 reminding firms that […]
The Security Traders Association (STA) and the Financial Information Forum (FIF) Partner on the SEC Large Trader Rule
NEW YORK (September 27, 2011) – The Security Traders Association (STA) and the Financial Information Forum (FIF) have announced a partnership to assist securities industry participants with the implementation of the newly approved SEC Rule 13H-1, Large Trader Reporting, (LTR). As part of the agreement, FIF will provide summary information to market participants through the […]
STA Calls for An Advisory Committee For Limit Up/Limit Down Plan
As found on Traders Magazine Online News. As “limit up/limit down” moves closer to reality, the Security Traders Association is asking that many market participants–not just the exchanges–have input into possible amendments to the plan. In a letter to the Securities and Exchange Commission on Wednesday, the STA said it supported the basic design of […]
STA Provides Comment Letter to SEC on ‘Limit Up Limit Down’ Proposal
Association applauds investor protection aspects but asks SEC to review Committee structure