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Spear, Leeds & Kellogg (view source)
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{{Infobox_Company <!-- Feel free to remove comments like this when you add real info --> | {{Infobox_Company <!-- Feel free to remove comments like this when you add real info --> | ||
| company_name = Spear, Leeds & Kellogg | | company_name = Spear, Leeds & Kellogg | ||
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Spear, Leeds & Kellogg Specialists LLC is a [[specialist]] on the [[New York Stock Exchange]]. It is a subsidiary of [[Goldman Sachs]] Group. | Spear, Leeds & Kellogg Specialists LLC is a [[specialist]] on the [[New York Stock Exchange]]. It is a subsidiary of [[Goldman Sachs]] Group. | ||
The firm was founded as in 1931 as Spear, Leeds & Co. by Harry Spear and Larry Leeds. James Kellogg joined the firm in 1941. | The firm was founded as in 1931 as Spear, Leeds & Co. by Harry Spear and Larry Leeds. James Kellogg joined the firm in 1941.<ref>{{cite web|url=http://www.fundinguniverse.com/company-histories/Spear-Leeds-amp;-Kellogg-Company-History.html|name=Spear, Leeds & Kellogg|org=fundinguniverse.com|date=February 5, 2009}}</ref> | ||
Goldman Sachs acquired it in 2000. | Goldman Sachs acquired it in 2000. | ||
In addition to its market maker services, it also offers clearing, trading, and reporting tools. It also offers financing to customers and loans out stocks, especially hard-to-borrow securities. In addition it provides [[custody reporting]] services and a Web-based [[portfolio accounting]] system. | |||
== History == | == History == | ||
SLK has long been known as a leading specialist on the New York Stock Exchange. In 2004 SLK and four other specialist firms paid $240 million to settle with the Securities and Exchange Commission (SEC), which accused them of "front-running," artificially inflating the price of shares they held as a way to skim additional profits. | |||
== Products and Services == | == Products and Services == | ||
Market making, clearing, and reporting tools | |||
== Key People == | == Key People == | ||