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Friday, December 14, 2018

NY Stock Exchange let Morgan Stanley make after-hours trade

At the New York Stock Exchange, some traders are more equal than others.

That’s the bitter takeaway from stock brokers, who say the Big Board, in an unusual move last week, gave special treatment to a broker at Morgan Stanley who asked to trade large blocks of stocks for several minutes after the markets closed.

The frantic floor trader needed to make orders after the closing bell on at least four stocks on Friday — the last trading day before President Trump and Chinese President Xi Jinping’s long-anticipated summit in Argentina to hash through trade issues, two people familiar with the trades told The Post.

Those sources say the NYSE would normally have shut the trader out of the market, for fear of letting one market player gain an unfair advantage over other participants and wrongly influence stock prices.

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2 comments:

Anonymous said...

Dont you know that rich people play by a different set of rules than us regular folk? It's why you're saying the Mueller probe has done nothing when we have real jail sentences. Panama papers that everyone forgot about. I have zero sympathy for the ultra rich.

Anonymous said...

White collar criminals are finally being sent to jail. Thanks Mueller