The definition of insanity is doing the same thing over and over again and expecting a different result.

SEC Rule 10b-18 sets the requirements for corporate stock buybacks and the rule’s “safe harbor,” which allows companies to purchase their shares in the open market without concern that their activities could later be deemed to be manipulative under the law.  One of the requirements of the Rule 10b-18 safe harbor is that brokers buying stock for an issuer must buy at a price that is no greater than the higher of the last independent bid price or the last sale price.

M-ELO, Nasdaq’s Midpoint Extended Life Order, is a new order type that is designed to attract longer term investors to interact with each other by trading against other M-ELO orders at the midpoint of the NBBO.

Is there a tradeoff between execution fees and the execution performance delivered to my customer?

As we embark upon 2017, we are excited to unveil our new brand identity with the launch of our new website and logo.

Algorithmic Management Systems enable broker-dealers to solidify buy side relationships and capture order flow. For the last several years, the buy side has been shifting their trading flows from the bulge-bracket firms...

As an independent agency broker-dealer, and provider of tools to assist other broker-dealers in routing, execution, pre- and post-trade compliance and risk monitoring, we have a significant interest in ensuring that the fees exchanges charge for access and connectivity services are fair and equitable, and allow for the most orderly, efficient and competitive markets possible.