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Difference between revisions of "Spear, Leeds & Kellogg"
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Spear, Leeds & Kellogg (view source)
Revision as of 16:06, 11 February 2012
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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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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. | 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. | 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. | ||