SIAC Shutdown Raises Questions About Off-Exchange Regulation
THIS WEEK'S LEAD STORIES
An electrical fire shut down the Securities Industry Automation Corp. for several hours on Dec. 27, forcing the late opening of the New York and American stock exchanges and of the nation's regional exchanges, which weren't able to disseminate quote information as required under Securities and Exchange Commission regulations.
The fire raised eyebrows because it highlighted the ability of large institutions and broker/dealers are able to trade off-exchange. While the SEC regulations halted trading
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