THE DEFINITIVE SOUR CE FOR TR ADING NE WS
VOL XLV ISSUE 15 2 – 8 MAY 2013 www.wallstreetletter.com
IN THIS ISSUE News People moves 04 Reader poll 08 Feature Form PF annual filers 09 Focus Fee chart 10
MORE NEWS INSIDE
TOP STORY
CBOE exchanges add BCP requirement
Most market participants have been required to have some sort of BCP in place since 9/11 TURN TO PAGE 04
FTT more favorable than Camp proposal
penny spreads, referring to the proposal to tax three cents for Tony McCormick, CEO of every hundred dollars transacted the BOX Options Exchange, on exchanges, currently under told attendees at the Options review by Congress, explained Industry Conference in Las Steve Crutchfield, head of US Vegas on Thursday that a Options for NYSE Euronext. financial transaction tax would McCormick said he hopes be a favorable alternative to the that the proposal will be put tax proposal Representative off but added he expects the David Camp (R-Mich.) made only way the industry will avoid earlier this year. it is a compromise involving During their annual panel adoption of a financial discussion, options exchange transaction tax. executives called the proposal a “Maybe we have to horse trade threat to the options industry and [the FTT] down the road. It detrimental to investors looking might be a solution... this TURN to manage risks. The tax in the is coming, the need is to TO PAGE Camp Proposal would double get money back out of the cost to investors trading in the system,” he added. 03
BY RYAN GORMAN
BATS Options adds market order collar
The feature will limit the potential for executions at prices inferior to the national best bid or offer TURN TO PAGE 07
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Form PF annual filers
Jeanette Turner outlines 10 items to check before you file
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V I S I T WA L L S T R E E T L E T T E R . C O M F O R U P - TO - T H E - M I N U T E I N V E S T M E N T N E W S