Friday, April 23, 2010
NYSE calls for crackdown on dark pools and their brokers
NYSE Euronext said it will propose to the Securities and Exchange Commission restrictions on dark pools aimed at getting investors better prices on their trades. Duncan Niederauer, CEO of NYSE Euronext, said the SEC should establish rules to govern how a trade is handled by a dark pool when it doesn't quote a price in advance. "They should have a pre-trade transparency-reporting requirement," Niederauer said.
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