Word: sec
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Dates: during 1980-1989
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...range and scope of electronic trading increases, so may the regulatory headaches. Says Gary Lynch, the Securities and Exchange Commission's enforcement chief: "The internationalization of the markets is a huge potential problem unless regulators are prepared to cooperate." Since May, the SEC and U.S. commodity-exchange regulators have signed memorandums of understanding with Japan and Britain, agreeing to share information in trading-fraud cases...
Indeed, a study by SEC staffers has shown that when publicly traded firms announce major investments in long-term research and development, their stock prices tend to rise. One example frequently cited by marketplace defenders to show that investors can still embrace long-range results: Genentech, the California-based biotechnology firm that went public in 1980 to a tumultuous market reception, even though it had not yet brought out its first products...
...SEC's request, the Big Board has taken a small stab at curbing the ups and downs but with little success so far. On Sept. 19, the N.Y.S.E. experimented with a procedure of informing the trading floor half an hour before closing of the major holdings at that time in the stocks that compose the Dow. The aim was to allow counterpositions to be built up by competing traders, and thereby smooth some of the program-trading swings. The SEC hopes to repeat the experiment in December. The problem, though, is that the times when the market gyrations will take...
...heads is getting smaller," says Field. "The negative ads are the ones that stick." The forum for most of the mudslinging is television. In big statewide races, staging rallies and pressing the flesh in traditional "retail campaigns" are becoming dying arts; saturating the airwaves with pungent, simplistic 30-sec. "hit ads" is considered more efficient and effective...
...happened a week before the stock exchanges' now notorious "triple-witching hour," the quarterly expiration deadline for stock options, stock-index futures and stock-index options. In the past, massive computer-triggered "program trading" has pushed the market up or down steeply when the witching hour struck. Now the SEC has decided to look into such selling waves whenever they occur. Whether anything can then be done about the phenomenon is unclear. As if to emphasize this point, the Dow slumped almost 35 points in a single day last week, before closing Friday at 1769.69, 7 points higher than...