STANY is the voice of the trading community in the Great New York City area. STANY represents individuals, engaged in the buying, selling and trading of securities. STANY does not represent a single business or business model, but rather provides a forum for trading professionals from institutions, broker-dealers, ECNs, ATSs and systems providers to share their unique perspectives on issues facing the securities markets. Our members work together to promote their shared interest in efficient, liquid markets, as well as their concern for investor protection. We believe that strong and efficient markets require an appropriate balance between effective regulation and innovation and competition.

Stories of interest highlighted are do not necessarily reflect the opinions of the STANY Board or the membership. We hope that you will find the articles chosen to be of interest and the links to the left to be a quick resource to other news stories and market information. 

Industry Response to Unusual Trading of May 6th

SEC to File Limit Up Limit Down Rules April 6, 2011 On Wall Street article discussing the proposal  SEC Announcement of Limit Up Limit Down Proposal

SEC Chairman, Mary Schapiro's Testimony on the Events of May 6th Click here for the May 20th testimony.

SEC to Publish for Public Comment Stock-by-Stock Circuit Breaker Rule Proposals. Click here for press release May 18, 2010.

STANY's letter to SEC Chairman Mary Schapiro and the Senate Banking Committee STANY supplemental letter May 6 2010

Knight's Perspective on the market event of May 6, 2010 from Thomas M. Joyce, Chairman & CEO, Knight Capital Group Click Here.

SEC's statement on the events of May 6th Click here.

STANY files Comment Letter on Risk Managment Controls for Brokers or Dealers with Market Access

Click Here for STANYComment Letter Market Access March 29

STANY and STA File Comments on SEC's Non-Public Liquidity Proposal

Click here for STANY's Comment STANY_Comment_Dark_Pools_February_17_2010

Click here for STA's Comment STA Non-Public Displayed Liquidity FINAL

SEC asks Exchanges to devise new trading rules Click here for story.

Exchanges agree in principle to uniform circuit breakers Click here for story.


STANY files letter with SEC opposing FINRA's proposal to create a Quotation Consolidation Facility STANY Comment FINRA QCF-Jan-13 2010
FINRA Proposal Riles OTC Market- for article click here.

STANY and STA file comments to SEC's proposed amendments to Reg SHO

STANY comments on Reg. SHO FAQs 2.4 and 2.5 October 13, 2009
See STANY's Letter in response to SEC's Supplemental Request for Comment STANY_Comment_Reg_Sho_9-21-09
See STA's Letter in response to SEC's Supplemental Request for Comment
Reg SHO Alt Uptick Rule Comment Letter 9 21 09 Final
See STANY's Letter STANY_Letter_RegSHO_June2009
See STA's Letter Short Sale Comment Letter 6 19 09 - Final

STANY's Comment on The Volcker Rule

Click here for STANY's Comment Letter on the tick size proposals of the JOBS ACT.

STANY's Comment Letter on the JOBS Act

Click here for STANY's Comment Letter on the tick size proposals in the JOBS Act.

2/11/2013- Financial Transaction Tax included in Senator Whitehouse Sequester Replacement Plan

On Monday February 11, Senator Sheldon Whitehouse (D-RI) introduced two bills to replace the across-the-board cuts. The bills, which are cosponsored by U.S. Senators Carl Levin (D-MI), Tom Harkin (D-IA), and Bernie Sanders (I-VT), would replace the sequester by “closing tax loopholes that currently benefit the wealthiest Americans and big corporations.”  Of particular interest to the STANY Comunity, the second bill (“Nine-Year Option”)  includes a Financial Transactions Tax (FTT) of 0.03% (estimated to raise $352 billion over ten years), as well as a fee on large financial firms.  Click Here for a summary of the proposal.