Other priorities of the Lamfalussy report are new directives on prospectuses accompanying the sale of new securities and on market abuses, such as insider trading.
But that same month, a trading house in the City, Winterflood Securities, stopped making a market in Huntingdon shares.
Moreover, with Beijing having placed a moratorium on IPOs on exchanges in the cities of Shanghai and Shenzhen, and stock-trading volumes having been sluggish since the market crash, securities firms are keen to find new sources of revenue.
This arguably makes the market more efficient, especially for securities with higher levels of trading volume.
Indexes have morphed from their market-matching beta roots to complex trading- and securities-weighting strategies that are supposed to add excess returns, known as alpha.
Whether by foreigners or locals resurgent trading in the Japan market has been a boon to Japanese securities firms, especially the longtime disappointing and accident prone Nomura.
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Concerned about excess market volatility, the Securities and Exchange Commission has loosened some trading regulations, including allowing companies to buy back more of their own shares than usual.
Traders have already been saying new individual stock circuit breaker rules at the exchanges create more inefficiencies than they solve, and now the Securities and Exchange Commission is considering tightening the noose more by seeking stricter trading obligations on market makers.
Evans, by the way, also had a history of SEC violations including insider trading and market manipulation which ultimately ended in a permanent injunction barring him from the securities industry.
The Securities and Exchange Commission, under pressure to curb the trading abuses that many blame for the severe market correction last fall, ended a two-day meeting on short-selling and stock lending Wednesday without making any concrete pledges to change regulations.
"It is a good thing because the Vietnamese will know better about trading stocks, " says SSC official Le Thao, an expert on Vietnam's securities market.
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On the stock market, the news is decidedly downbeat, particularly for the securities industry that makes money from trading volume.
Controlling shareholders, often referred to as promoters, are allowed to sell themselves securities at a discount to the market price, which most investors would view as a form of insider trading.
Boldly moving out of its comfort zone, the 327-year-old exchange bought a controlling stake in the London-based Equiduct trading platform and entered a strategic relationship with the investment banks Citadel Securities and Knight Capital Group, to become a market to be reckoned with.
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