Wall Street Letter VOL. XLV, NO. 36 - December 2013 - Page 4

NEWS 04 is a difference of 5% or 50 cents, the stock isn’t reopened. The reference prices, which are essentially the prices at which the highest number of shares could be matched, are distributed every five seconds. Under existing rules the exchange compares the most recent price, the price issued at the end of the display period, with the price that was distributed 15 seconds prior. But Nasdaq told the regulator the process doesn’t consider the other two prices that are disseminated in the interim. “Either of the two intermediate current reference prices may reflect volatile pricing that would not be considered by the current price volatility test,” it said. Going forward, Nadsaq noted it plans to compare all three prices, the price disseminated 15 seconds before the end of the display period as well as prices at 10 seconds and five seconds, to the current reference price to make its volatility determination. TRADING FIRMS Lime to cover pre-, post-trade risk via offering Lime Brokerage will release a risk management capability that targets pre- and post-trade risk analysis for the buyside and sellside, according to Jeff Bell, CEO. “The capability revolves around a marrying of post-trade and pre-trade risk in a layered approach that aims to make risk management stronger,” said Bell. “It creates an independent JEFF BELL view of risk management versus PEOPLE MOVES OANDA hires exec VP OANDA Corporation hired Vatsa Narasimha to the positions of executive vice president and chief strategy OneChicago promotes regulation director - Bovill hawks RBS exec he was OneChicago’s director of SEC appoints director of regional Deutsche Bank poaches Boeing exec - prosecutor for the Northern District - oversee enforcement and examination MarketAxess takes on chairman from JP Morgan Options take on NYSE vet - Brownstone expands West Coast BJSS hires head for London consultancy business aging director to expand its efforts in - -