NYSE Will Pay $5M To End SEC's Data Access Claims

Law360, New York (September 14, 2012, 11:57 AM EDT) -- The New York Stock Exchange agreed Friday to pay $5 million to settle U.S. Securities and Exchange Commission allegations that it gave some customers early access to trading information, marking the first time the agency has drawn a financial penalty from an exchange.

The NYSE violated SEC rules prohibiting exchanges from sending market data to proprietary customers before more broadly distributing it via so-called consolidated feeds, according to the agency. From 2008 to mid-2010, the NYSE broadcasted trading information through two proprietary feeds before sending it...
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