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News Summary: NYSE paying $5M to settle charges

Associated Press Published: September 14, 2012

NYSE PAYS FINE: The New York Stock Exchange is paying $5 million to settle federal civil charges that it gave some customers an unfair head start by providing them with trading data ahead of the wider public.

A FIRST: The action marked the first time the Securities and Exchange Commission ever imposed a fine on an exchange.

TOO SPEEDY: The SEC said the exchange failed to monitor the speed by which its computers deliver tailored data packages directly to certain customers, compared with its global transmissions.