DOW JONES NEWSWIRES
The New York Stock Exchange said Wednesday it has disciplined
three firms for trading violations and one person for failing to
maintain a fair and orderly market.
The exchange, owned by NYSE Euronext (NYX), said AIM Securities
Co., Advanced Securities Co. and Aegis Specialist LLC executed
orders for accounts in which they had an interest before executing
any sales or purchases for accounts for which they served as an
agent.
The companies also were found to have failed to honor published
quotes, failed to execute orders in a timely manner and other
violations. The infractions occurred between 2002 and 2007.
Meanwhile, it said Michael Marchisi violated exchange rules by
freezing the NETS display book, failing to maintain a fair and
orderly market under specialist obligations.
The companies consented to censure and a $65,000 joint and
several fine. Marchisi agreed to the same sanction. Both the
companies and Marchisi consented to the penalties without admitting
or denying guilt.
-By Kerry Grace Benn, Dow Jones Newswires; 212-416-2353;
kerry.benn@dowjones.com