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Massachusetts Probing Trading By Financial Services (Brokerage) Firms
Also from Schwab is their advisory disclosure, that purports to explain how they reconcile best execution with payment for order flow:
Schwab may receive remuneration such as liquidity or order flow rebates from a market or firm to which orders are routed, but at all times is committed to best execution.
Schwab considers a number of factors ...
[and] Schwab may receive remuneration such as liquidity or order flow rebates from a market or firm to which orders are routed, but its trading practices are designed to achieve best execution.
I'm not condoning the practice, just wondering whether there's anything new here or whether this is grandstanding. (What, a politician burnishing his credentials?) The Boston Herald article says that "Galvin said he suspects the practice is standard in the financial industry." If he only "suspects" a practice that's out in the open, where has he been?
@Maurice and @msf When is the next governor election for the state??? 2018 ? Reminds one of prosecutor cases a year or so before the next election cycle.
Why shakedown Fidelity when they have a large bond trading operation in New Hampshire. If I was Abagail Johnson I would send a message and move some jobs.
So it's not as though Fidelity has shown much commitment to the Bay State, except to keep execs like Ned (recently retired) and Tillinghast comfy in their Beacon Hill abodes.
and Danoff my neighbor in Weston, I believe, with Abby in Milton. Tillinghast lives like 2-3 blocks from KHeebner, which for some reason always seemed amazing to me.
All my investments were purchased directly, except for the DSPP, through Computershare, in one case. The Galvin story bears me out about my decision to do things that way. There's just too much that's LEGAL, yet morally repugnant.
Wait, whose point are you making?? Romney was weak (worse than weak, but putting it nicely) in any number of respects, and latterly has become rehabbed into this ersatz statesman quite by default. Five years after your article, Baker has brought the state back to its ever attractive vibe, for several reasons, and it remains a place companies look to for all sorts of advantages; see the article I posted. If I were in the 1%, or close, I would not be hanging out here looking for smart ideas. If I were a rightwingnut, hmm, don't know what I would be opposing, depends on which flavor...
Comments
Here's a sample disclosure from Schwab (generally payments "average less than $.0009 per share"):
http://www.schwab.com/public/schwab/nn/legal_compliance/important_notices/material_aspects.html
Also from Schwab is their advisory disclosure, that purports to explain how they reconcile best execution with payment for order flow: I'm not condoning the practice, just wondering whether there's anything new here or whether this is grandstanding. (What, a politician burnishing his credentials?) The Boston Herald article says that "Galvin said he suspects the practice is standard in the financial industry." If he only "suspects" a practice that's out in the open, where has he been?
When is the next governor election for the state??? 2018 ?
Reminds one of prosecutor cases a year or so before the next election cycle.
Pointless. Fidelity had already downsized its Mass. operations by 60 percent between 2005 and 2015, and since then has reduced its headcount by an additional 8% of those remaining.
So it's not as though Fidelity has shown much commitment to the Bay State, except to keep execs like Ned (recently retired) and Tillinghast comfy in their Beacon Hill abodes.
Tillinghast lives like 2-3 blocks from KHeebner, which for some reason always seemed amazing to me.
Wonder why GE ever made its decision other than the $ incentives.
Answer here:
https://www.bostonglobe.com/business/2016/07/29/these-tech-execs-explain-why-they-moved-their-companies-boston/9sDaU4eCrlLneQgPldF4MI/story.html
Romney was weak (worse than weak, but putting it nicely) in any number of respects, and latterly has become rehabbed into this ersatz statesman quite by default.
Five years after your article, Baker has brought the state back to its ever attractive vibe, for several reasons, and it remains a place companies look to for all sorts of advantages; see the article I posted.
If I were in the 1%, or close, I would not be hanging out here looking for smart ideas. If I were a rightwingnut, hmm, don't know what I would be opposing, depends on which flavor...
I do enjoy the company's parties.
Enjoy many of the people hardly more or less than neighbors in Waltham and Somerville long ago
I think namedropping means you know them. Would be cool if I played bball w/ Danoff (or had known Wang or Olsen and all the other locals personally).
This is interesting:
http://www.snopes.com/quotes/kenolsen.asp