1.
Companies team for technologies
NEW YORK, Sept. 27 (UPI) -- Securities and Exchange Commission Chairman William Donaldson Monday praised the New York Stock Exchange's new management.
Donaldson said potential reforms at the Big Board could affect the trading floor.
Donaldson addressed a breakfast event at the Science, Industry And Business Library branch of the New York Public Library and said the NYSE has "outstanding" new leadership.
The NYSE's chairman, John Reed, and its chief executive, John Thain, took over in the aftermath of last year's ouster of Big Board chief Dick Grasso.
"I think Thain is moving in the right direction," said Donaldson, himself a former NYSE head.
Thain has proposed an improved trading system that would lead to more automation of trading at the 212-year-old NYSE. The changes are being considered by the SEC even as the agency mulls broader market structure reforms.
Although the NYSE reforms would modernize trading and could garner greater volume for the exchange, there has been some concern that they could erode the role of the securities' professionals on the floor.
Donaldson said the NYSE floor could see "changed economics," adding that lower margins and higher volumes are possibilities.
|
|
|
|
|
|
| Additional Business News Stories | |
ASUNCION, Paraguay, May 22 (UPI) --
Land-locked Paraguay is hoping the latest investor seeking oil in its promising western region will have better results than previous prospectors.
|
WASHINGTON, May 22 (UPI) --
A U.S. Senate committee report has revived controversy over alleged counterfeit Chinese electronic components entering U.S.-made defense equipment and weapons.
|
Like housing markets overall, the market for luxury homes is growing tighter as the spring buying progresses. Though still a buyer's market, the ILHM Luxury Housing Report for last week shows a pattern of rising prices and fewer days on market since...
|
What if Europe turned out to be the new Japan?
|
| Stories | Photos | People | Comments |
View Caption
