National Market System: Hearings Before the Subcommittee on Telecommunications and Finance of the Committee on Energy and Commerce, House of Representatives, One Hundred Third Congress, First Session, April 14, May 13, 26, June 29, and July 13, 1993, Volumen4U.S. Government Printing Office, 1994 - 826 páginas |
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Términos y frases comunes
American Stock Exchange Amex auction market automated believe benefits best bid best execution bid/ask spread BLILEY broker-dealers brokerage brokers cash payments Chairman clients Committee compete CONGRESS THE LIBRARY costs customer orders dealer market direct payments disclosure Donaldson efficient equity Exchange Act fees fiduciary floor funds GRASSO Hardiman inducements for order Instinet Intermarket investment issue limit orders liquidity listed securities listed stocks Madoff market centers market liquidity marketplace member firms money manager Morgan Stanley NASD NASDAQ national market system NYSE operate opportunity order flow participants payment for order percent Philadelphia Stock Exchange plan sponsor practices price discovery price improvement primary market proprietary trading systems PTS's question quotation quote regional exchanges regulation regulatory reporting retail Ruder rule Section 28 securities markets sell share soft dollar arrangements spread subcommittee testimony Thank third market makers transactions transparency volume York Stock Exchange
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Página 215 - Markey chairman Subcommittee on Telecommunications and Finance Committee on Energy and Commerce US House of Representatives...
Página 454 - broker" means any person engaged in the business of effecting transactions in securities for the account of others, but does not include a bank. (5) The term "dealer...
Página 326 - A member, in the conduct of his business, shall observe high standards of commercial honor and just and equitable principles of trade.
Página 302 - Chair recognizes the gentleman from Texas, Mr. Fields. Mr. FIELDS. Thank you, Mr. Chairman. I will try to be very brief so we can move forward and hear the report.
Página 552 - Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of this title.
Página 69 - ... to brokers, dealers, and investors of information with respect to quotations for and transactions in securities; (iv) the practicability of brokers executing investors...
Página 719 - Every registered clearing agency shall also make and keep for prescribed periods such records, furnish such copies thereof, and make and disseminate such reports, as the...
Página 150 - Commission may prescribe as necessary or appropriate in the public interest, for the protection of investors...
Página 34 - approaches the problem of encouraging the development and implementation of a national market system from the point of view of preserving the competing markets for securities that have developed, breaking down all barriers to competition that do not serve a valid regulatory purpose, and encouraging maximum reliance on communication and data processing equipment consistent with justifiable costs.
Página 705 - Amendments in 1975 solely by reason of his having caused the account to pay a member of an exchange, broker, or dealer an amount of commission for effecting a securities transaction in excess of the amount of commission another...