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Old 09-15-2012, 05:59 AM
 
1,139 posts, read 3,469,236 times
Reputation: 799

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Only in America!

Link: http://online.wsj.com/article/SB1000...485707824.html

Quote:
The Securities and Exchange Commission said Friday it found that the NYSE had delivered stock-price quotes and other data to subscribers of two so-called proprietary data feeds as much as several seconds before the information was transmitted to the broader market.
Just makes me mad!!!

F***ing bas*ds...they should be hanged!

How long has this been going on? Another reason NOT to trust stock market with your retirement funds.
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Old 09-15-2012, 11:32 AM
 
4,761 posts, read 14,296,429 times
Reputation: 7960
Back in the late 80's, the NYSE constitution and rules was in book form only. I tried to buy a copy, but was told it was "out of print"!

And not one library in my area had a copy. This includes public, university, law libraries, etc.!

I asked at the public library and they told me sometimes a few copies of books were held back for libraries only to order. I requested they order a copy and they were able to get one. It was "eye opening" to say the least! One thing I saw was that large orders had priority over smaller orders for the same price (thus why my small orders were not going through when the stock hit that price!) I don't know if that is still the case?

These days those rules are on the internet at the following link...
NYSE Rules
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Old 09-15-2012, 05:59 PM
 
Location: Los Angeles area
14,016 posts, read 20,917,781 times
Reputation: 32530
Quote:
Originally Posted by Tampaite View Post
Only in America!

Link: NYSE to Pay $5 Million Penalty to SEC - WSJ.com
Just makes me mad!!!

F***ing bas*ds...they should be hanged!
How long has this been going on? Another reason NOT to trust stock market with your retirement funds.
I am guessing your post was tongue-in-cheek, but there are so many nut cases posting here that without being familiar with previous posts of yours I can't be sure. Actually, that few seconds constituted an advantage for the big traders; today's Los Angeles Times article explained why.
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Old 09-16-2012, 10:33 AM
 
Location: Victoria TX
42,554 posts, read 87,031,688 times
Reputation: 36644
$5-million fine. What a joke. Pocket change for the NYSE. Does anybody have any idea what a teensie weensie amount of deterrent value $5-million has to these high rollers? They can make $5-million a minute by violating the rules. Their lawyer won't even bother to contest it, for his 30% of $5-million. It brings to mind the OSHA fines. In 2010, the average OSHA fine to corporations for Hazard Warning violations was $273. Motorists pay a stiffer fine than that for rolling stops.
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