The New York Stock Exchange (NYSE) is set to ride out the storm over its controversial specialist traders and keep them on the floor, though their role could be reduced if proposed changes are implemented.
The row intensified last week when Fidelity Investments, the US fund management group, proposed that the specialist system be scrapped. The NYSE has said that some specialists have used information about client orders to trade illegally or front run â a practice that may be outlawed by the introduction of electronic trading, as it automatically matches buyers and sellers.
