STANY members are actively involved in helping to promote the mission of both STANY and its parent organization, STA (Security Traders Association). Many of STANY's members serve on key STA committees, representing STANY's interests while supporting STA's work analyzing and interpreting the impact of news and legislation on the securities industry. The STA posts news releases plus the status of its monitoring and lobbying activities on its web site. We have provided you with direct access to these pages through the links on this page.
Recent News
All News
Proposed Changes to the Options Markets
5/5/2010 12:00:00 AM
Proposed Amendments to Rule 610 of Regulation NMS The SEC published proposed changes to Rule 610 of Reg. NMS in order to "strengethen the national market system for listed options by: (1) Prohibiting the imposition of unfairly discriminatory terms by a national securities exchange that inhibit efficient access to quotations in a listed option on its exhange; and (2) establish a limit on the amount a national securities exchange would be permitted to charge to access the best bid or offer for listed options on its exchange. The proposed amendments are intended to make the requirements for access to listed options exchanges comparable to those for NMS stocks. Comments on the proposal are due on June 21, 2010. A full version of the rule is available in the Federal Register Click Here. For commentary by David Polk posted on the Harvard Law School website Click Here. For a summary of the proposal see Law Updates.com Click Here. SEC Rule 605 Likely Coming to Options The Securities and Exchange Commission may require market centers in the options industry to calculate and disseminate execution quality statistics. In a speech last week at the annual Options Industry Conference, Jamie Brigagliano, a deputy director in the SEC's Division of Trading and Markets, told attendees "it would not be surprising to me if the [SEC] staff were to recommend that the Commission consider making options subject to Rule 605 execution quality disclosure requirements." See full article by Peter Chapman for Traders Magazine Click Here.
Regulatory
Securities Industry News SEC Spotlight on Fair Value Accounting- October 2008 [click here] SEC Emergency Order Guidance for Market Participants- October 2008 [click here] SEC Temporarily Bans Short Selling in 799 stocks- September 18, 2008 [click here] STA's Special Report on Market Structure May 2008 [click here] STANY files Comment Letter with SEC on Section 12(g) of the Exchange Act- April 2008 [click here] STANY Files Comment on OTCBB Access Fees- May 31, 2007 [click here] SEC Approves Amendments to Rule 2320(a) Regarding Best Execution and New Interpretive Material 2320; Effective Date: November 8, 2006 [click here] Release No. 34-53024; File No. SR-NASD- 2005-095 [click here] STANY's Comment on NASD Notice to Members 05-61- TAF- October 31, 2005. [click here] SEC publishes Soft Dollar Guidelines for Comment- October 19, 2005 [click here] File No. SR-NASD-2005-089 Stany Letter [click here] SEC Extends De Minimis Exception for certain Exchange-Traded Funds from Trade-through Rule until June 28, 2006. [click here] Nasdaq extends Open Imbalance Information Dissemination [click here] SEC delays pilot period for suspension of Short sale Price Provisions [click here] NYSE updates Direct Plus proposal in filing to SEC [click here] Nasdaq announces new pricing schedule [click here] SEC Publishes New Reg SHO [click here] Nasdaq to Launch Opening Cross-- Here is everything you wanted to know about the Opening cross [click here] Reg. NMS Comment Letters Available On-Line [click here] SEC votes to propose that hedge fund advisers register under Investment Advisers Act- July 14, 2004 [click here] STA White Paper on U.S. Market Structure available on-line. [click here] SEC Proposed Short Sale Rule. See full test of proposed rule. October 29, 2003 [click here] STA President, SEC Chairman and market leaders Testify before the House SubCommittee on Capital Markets, Insurance and Government Sponsored Enterprises. See transcript of testimony.- October 30, 2003 [click here]
Stephen J. Nelson Esq.'s Weekly Editorial Stephen J. Nelson, Esq, a partner in The Nelson Law Firm and member of the Board of Directors of STANY writes a weekly editorial for Traders Magazine On-Line. Find recent editorials below. (Note: Mr. Nelson's opinions are his own and do not necessarily reflect the views of STANY's membership or the members of the STANY Board and staff.)
All News
Proposed Changes to the Options Markets
5/5/2010 12:00:00 AM
Proposed Amendments to Rule 610 of Regulation NMS The SEC published proposed changes to Rule 610 of Reg. NMS in order to "strengethen the national market system for listed options by: (1) Prohibiting the imposition of unfairly discriminatory terms by a national securities exchange that inhibit efficient access to quotations in a listed option on its exhange; and (2) establish a limit on the amount a national securities exchange would be permitted to charge to access the best bid or offer for listed options on its exchange. The proposed amendments are intended to make the requirements for access to listed options exchanges comparable to those for NMS stocks. Comments on the proposal are due on June 21, 2010. A full version of the rule is available in the Federal Register Click Here. For commentary by David Polk posted on the Harvard Law School website Click Here. For a summary of the proposal see Law Updates.com Click Here. SEC Rule 605 Likely Coming to Options The Securities and Exchange Commission may require market centers in the options industry to calculate and disseminate execution quality statistics. In a speech last week at the annual Options Industry Conference, Jamie Brigagliano, a deputy director in the SEC's Division of Trading and Markets, told attendees "it would not be surprising to me if the [SEC] staff were to recommend that the Commission consider making options subject to Rule 605 execution quality disclosure requirements." See full article by Peter Chapman for Traders Magazine Click Here.
Regulatory
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