TITLE

$6.3 Million Loss Raises New Issue About Access

PUB. DATE
September 2009
SOURCE
Securities Industry News;9/7/2009, Vol. 21 Issue 19, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article discusses about the 6.3 million dollars loss that Southwest Securities (SWS) takes after it acted as a qualified special representative (QSR) to a clearing correspondent customer. QSRs started during the advent of electronic communication networks (ECNs) in the 1990s. Also discussed is how SWS guarantees the broker to trade directly over Nasdaq and puts its capital on risk when the trading activity goes awry.
ACCESSION #
44372343

 

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