Specialists + Prop Trading (CNBC)

L

listedguru

Did anyone happen to catch the piece about the specialists being able to trade prop for their own account or something? I only caught like the last 10 seconds. They said something about a new rule change the sec would have to approve. Did anybody catch it?

-Guru
 
NYSE specialists have been able to establish tax-segregated omnibus accounts since 1949 (with amends to Federal Reserve Reg's T and U after 15 years of lobbying). THAT'S where "the money" is.
 
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