Word: nyse
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Carter, 64, said that in his new role he will be responsible for ensuring the independence of the board while simultaneously collaborating with other constituencies, including the Securities and Exchange Commission (SEC), NYSE chief executive ??officer John A. Thain, member companies, and NYSE customers...
...Carter will also face a number of challenges as chairman. His appointment comes at a time when the NYSE is still recovering from a financial scandal that rocked the exchange nearly 18 months ago. After receiving intense criticism concerning a $140 million retirement package, former NYSE chairman Richard Grasso yielded to mounting pressures and resigned in September...
Market experts say Carter will also have to deal with pressures to modernize the NYSE and transform it into a more competitive market. Some investors have criticized the NYSE for being the last major stock exchange to still rely on human trading in addition to computers...
Carter said that the NYSE has submitted a proposal to the SEC for a hybrid system aimed at balancing the concerns over moving towards new technology...
Carter said that the NYSE is also examining a possible shift to for-profit status. Though he wouldn’t offer an opinion on the move, he said that the NYSE is awaiting a report that will assist it in making a decision...