MIDEAST STOCKS - Factors to watch - May 28
DUBAI, May 28 Here are some factors that may affect Middle East stock markets on Sunday. Reuters has not verified the press reports and does not vouch for their accuracy.
WASHINGTON, June 17 A top New York Stock Exchange official is calling for eliminating the lucrative "maker-taker" pricing system used by stock exchanges across the industry, saying it creates too many conflicts of interest and market complexities.
"At an industry level, we are seeking support for the elimination of maker-taker pricing and the use of rebates," said Tom Farley, the president of IntercontinentalExchange's NYSE Group, in prepared testimony before a U.S. Senate investigative panel that convened Tuesday to explore how potential conflicted pricing structures and high-speed trading impact equity markets.
In the maker-taker model, brokerages earn rebates by sending in resting orders to bring more liquidity, but must pay fees if they take away liquidity through orders that can be executed immediately.
Farley also said his exchange plans to impose a six-month moratorium on permitting any "new or novel" order types. (Reporting by Sarah N. Lynch; Editing by Eric Beech)
May 27 The mother of ride-hailing firm Uber's chief executive has died in a boating accident near Fresno, California on Friday, the Fresno County Sheriff's Office said on Saturday
May 27 The mother of ride-hailing firm Uber's chief executive has died in a boating accident near Fresno, California on Friday, the Fresno Bee reported on Saturday.