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Article: Reg ATS: Liquidnet Awaits Rule Changes.(Rules & Regs)
- Article from:
- Traders
- Article date:
- October 1, 2009
CopyrightCOPYRIGHT 2009 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Nina Mehta
If the Securities and Exchange Commission revisits aspects of Regulation ATS this fall, as some expect, Liquidnet's exemption to the fair-access requirement could be on the chopping block.
Liquidnet's business could take a significant hit if its exemption disappears altogether. However, few expect this would happen without additional regulatory changes that would enable the crossing platform to keep doing business.
"Lowering the threshold [for us] would be problematic," said Howard Meyerson, general counsel at Liquidnet. "Our system is a useful way for institutions to reduce their trading costs. Telling institutions they have ...