February 10, 2005 |
The Securities and Exchange Commission said Wednesday that its probe into Nasdaq found that employees saw suspicious trading by MarketXT, an electronic communications network, in 2002 but failed to tell NASD's regulatory arm. The SEC said Nasdaq Stock Market Inc. and parent NASD have taken remedial steps to strengthen their roles in self-regulatory oversight of the market. Nasdaq and NASD, formerly the National Assn. of Securities Dealers, did not admit or deny the findings.
September 22, 1999 |
In another step toward round-the-clock stock trading, the Island trading network plans to let investors trade from 9 p.m. to 5 a.m. California time within three months, the president of the holding company that owns the No. 2 trading network said Tuesday. The early morning hours are primarily for non-U.S. investors, said Edward Nicoll, president and chief operating officer of Datek Online Holdings Corp., which owns 85% of Island.
August 26, 1999 |
MarketXT Inc. executed 142 orders and traded about $3.5 million worth of stock in its inaugural after-hours session Wednesday. Investors placed about 1,200 orders during the two-hour session, meaning about 12% of orders were completed. Like most competing after-hours systems, MarketXT requires investors to place "limit" orders specifying the prices at which they would buy or sell shares.
August 25, 1999 |
The after-hours trading game will get three new players today when Discover Brokerage and Dreyfus Brokerage Services announce that they're offering late trading immediately through MarketXT Inc. The two brokerages will offer extended trading Monday through Thursday from 3 to 5 p.m. Pacific time. Customers will initially be able to trade stocks in the Standard & Poor's 100 and Nasdaq 100 indexes. The hours and number of available stocks will eventually be expanded, the companies said.
August 18, 1999 |
Wall Street's mad dash toward 24-hour stock trading for individual investors accelerated Tuesday as online brokerage E-Trade Group said it is joining with electronic trading network Instinet to roll out after-hours trading by next month. The No. 2 Internet broker said its 1.2 million customers will be able to trade weekdays from 1 p.m. Pacific time--just as the New York Stock Exchange and Nasdaq Stock Market close--until 3:30 p.m.