WASHINGTON, May 2 (Reuters): The New York Stock Exchange agreed on Thursday to pay $4.5 million to settle charges brought by US securities regulators that the exchange flouted its own rules, marking the latest crackdown on violations of market structure rules.
The Securities and Exchange Commission said the NYSE, two of its exchanges and one affiliated brokerage "repeatedly engaged in business practices that either violated exchange rules or required a rule when the exchanges had none in effect."
Among the more serious problems flagged by the SEC was NYSE's failure to obtain approval to offer co-location services and its disparate pricing, which permitted some trading firms to pay less money than others to place their computer servers inside the exchanges' data centers.
Co-location provides advantages to traders because it lets them get access to data faster. The SEC did not allege specifically that any investors were harmed by NYSE's violations.
NYSE, NYSE Arca, NYSE MKT and its affiliated routing broker Archipelago Securities agreed to settle without admitting or denying the charges. A spokesman for NYSE, which is owned by IntercontinentalExchange Group Inc, declined to comment.
New York Stock Exchange to pay $4.5m to settle SEC charges
FE Team | Published: May 03, 2014 00:00:00 | Updated: November 30, 2026 06:01:00
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