Huang also evaded internal cross trade
requirements and caused violations of regulatory prohibitions on cross trades
by using a broker to effectuate the trades, the SEC says.
Global Banking News-June 1, 2015--BNP Paribas fined for unreported cross trades
According to the SEC, Shaw carried out a "more than eight-year best execution fraud" by manipulating time delays in systems for executing and reporting agency cross trades
on a regional US exchange to the advantage of hedge funds clients and at the expense of accounts belonging to employee stock purchase plans, employee stock option plans, direct purchase and sale plans and other similar plans.
A fiduciary (other than the investment manager engaging in the cross trades
of any affiliate) for each plan participating in the transaction authorizes in advance of any cross-trade (in a document that is separate of any other written agreement of the parties) the investment manager to engage in cross-trades at the investment manager's discretion, after such fiduciary has received disclosure regarding the conditions under which cross-trades may take place (but only if such disclosure is separate from any other agreement or disclosure involving the asset management relationship), including the written policies and procedures of the investment manager (see below);
The dollar is also under profit-taking pressure in cross trades
after the euro failed to touch its upside of 149 yen overnight,'' Harada said.
The agreement is based on the principle of freedom to provide maritime services, free access to cargoes and cross trades
, unrestricted access to ports and auxiliary services and non-discriminatory treatment in the use of ports and auxiliary services.
The complaint charged that the five inflated Exsorber's stock price from $1 to $13 between November 1993 and February 1996 through a series of bribes and cross trades
between the U.
New Technology Enables Sub-Advised Investment Platforms to Efficiently Execute Cross Trades
The vessels suitable for worldwide trading, can be alternatively deployed in cross trades
as per the opportunities available.
An OSE official said cash trading volume has shrunk as the introduction of the mark-to-market method of accounting has led to fewer large-lot cross trades
aimed at making profits.
By providing multiple ways to cross trades
and a deep liquidity pool, POSIT is one of the most trusted execution venues for traders of all styles.
Road transport remains the dominant mode for international freight transport, but sea freight showed the highest growth over the review period, with receipts from cross trades
showing a particularly large increase.