STA News Media : Press Releases

Press Release: STA Supports Liquidity Provision and as well as Pools with Fair Access and Full Disclosure

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2 November 2009

(New York: October 30, 2009) The STA affirms its support of the importance of liquidity providers regardless of the market capitalization of any particular stock. The US securities markets provide for the health and growth of the overall economy as well as the engine for raising capital. Absent the provision of liquidity, our securities markets would not exist. Historically, liquidity has been provided in exchange listed securities by specialists and market makers and in OTC securities by market makers. Both take risk to secure fair, liquid, and orderly trading.

Over the course of recent decades technology has evolved this function but its importance to investors and issuers remains the same.

Consistent with this, STA’s history has been one of participation by, and support of “liquidity providers.” Representation of liquidity providers and their perspective is a core mission of the STA. The importance of their role in the market is essential to any debate regarding market structure, or rules and regulation of exchanges, brokers, or ATSs.

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Press Release: STA Elects 2010 Officers and Governors

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20 October 2009

(New York: October 20, 2009) At its 76th Annual Conference and Business Meeting, the Security Traders Association (STA), which represents 5,200 broker and institutional equity securities traders in North America, elected its leadership for 2010.

Elected to serve as Officers for 2010 include:

Chairman, Brett Mock, BTIG LLC, San Francisco
Vice Chairman, Joseph Cangemi, BNY ConvergEx Group, New York
Treasurer, Louis Matrone, JonesTrading Institutional Services LLC, Dallas
Secretary, Jennifer Setzenfand, Federated Investors, Inc., Pittsburgh

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Press Release: STA Opposes Proposed Transaction Tax

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25 February 2009

(New York: February 23, 2009) The Security Traders Association (STA), the leading advocacy and education organization for professional equity traders in the U.S., today stated its strong opposition to a bill introduced by Congressman Peter DeFazio, H.R. 1068 the “Let Wall Street Pay for Wall Street’s Bailout Act of 2009.” The bill aims to impose a 0.25% transaction tax on the “sale and purchase of financial instruments such as stock, options, and futures.” The proceeds of this tax are to pay for the “net cost” TARP and emergency Federal Reserve programs.

In an open letter, the STA registered both its strong opposition and the rationale for its position. The STA demonstrates that bill is based on erroneous premises and misstatements of fact and could lead to serious disruptions in the capital markets at a time of national crisis.

A synopsis of the STA’s position follows:

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Press Release: STA Elects 2009 Officers and Governors

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21 October 2008

(New York: October 21, 2008) The Security Traders Association (STA), the leading advocacy and education organization for professional equity traders in the U.S., today announced the new members of its Board of Governors and Officers for 2009. The Board of Governors provides overall governance for the Association. The Officers, elected for a one-year term, comprise the Executive Committee, set the direction, and oversee operations. The elections were made at the Association’s 75th Annual Conference and Business meeting. The Governors and Officers are elected by the 5,200 members of the Association, represented through 26 Affiliates in North America and Europe.

Newly elected Governors and their Affiliates are:

• John Daley of Dallas
• Rory O’Kane of Chicago
• Joe Roman of Georgia
• Jon Schneider of Kansas City
• Jennifer Setzenfand of Pittsburgh

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Press Release: NYIF Partners with STA for Continuing Education

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6 October 2008

(New York: October 6, 2008) The Security Traders Association (STA), the leading advocacy and education organization for professional equity traders in the U.S., today announced that it has, through its education arm, the STA University, formed a strategic partnership with The New York Institute of Finance (NYIF). Under the agreement, NYIF will provide the Association’s 5,200 members access to the eLearning course catalog and Virtual Classes of the NYIF through the STAU. The courses are in areas that are critical to traders’ continuing professional development.

Initially, NYIF will offer its eLearning courses to STA members. Currently, more than 175 hours of online learning, covering over 25 financial area topics, are available via the web. These topics include back office operations, derivatives, equities, credit, risk management, corporate finance, and many others. All courses earn professional continuing education credits.

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Press Release: STA Report Calls for Modification of U.S. Market Structure--Key Drivers, Issues Identified

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30 April 2008

(New York: April 30, 2008) The Security Traders Association (STA), the leading advocacy and education organization for professional equity traders in the U.S., today issued a special report. The report details the key drivers of current market structure in the U.S. and recommends incremental actions to improve the markets, assure continued market quality, and sustain U.S. competitiveness. The STA offers this report to establish a dialogue on issues of concern with industry participants and policymakers.

The report finds that U.S. equity market structure has evolved considerably and that the evolution is due primarily to changes in exchange structure, regulation, and technological advancements. One consequence of this evolution is the volatility the U.S. equity markets are now experiencing. These changes and their consequences are having a significant impact on the securities industry and investors.

Among the key findings of the report are: Click here to view the press release in its entirety.


Press Release: STA Applauds Continued Reduction in Section 31 Fees

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5 March 2008

STA Applauds Continued Reduction in Section 31 Fees
Demonstrates Value of Cooperative Effort with Legislators and Regulators

(New York: March 5, 2008) The Security Traders Association (STA), the leading advocacy and education organization for professional equity traders in the U.S., today applauds the continued reduction in Section 31 fees, which are collected on equity trades from the securities industry to fund the Securities and Exchange Commission (SEC).

The STA worked with the Congress to help pass in 2002 The Investor and Capital Markets Fee Relief Act, which projected a reduction in the fee structure. Section 31 fees are paid by investors every time they sell a stock. The Act also increased funding for the SEC and granted SEC employees pay parity with Federal banking regulators as a way to help the Commission attract and retain quality staff.

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Press Release: Green Elected STA Chairman - 2008

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26 November 2007

Green Elected STA Chairman – 2008
Assumes Role at Critical Time in Securities Industry

(New York: October 12, 2007) The Security Traders Association, which represents 5,000 broker and institutional equity securities traders in North America has elected Bart Green, Vice-President of A.G. Edwards and Sons, Inc., as its 2008 Chairman, effective January 1, 2008. He assumes the one-year term of the Association’s Chairmanship at a critical time for professional traders.

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Press Release: STA Favors NASD-NYSE Consolidation Plan

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28 November 2006

STA FAVORS NASD-NYSE CONSOLIDATION PLAN

(New York: November 28, 2006) John Giesea, President and CEO of the Security Traders Association issued the following statement for publication on the NASD-NYSE consolidation announced today:

“The consolidation of member regulation operations and the development of a new private SRO is a positive development for the U.S. capital markets. It will secure a cost effective and efficient regulatory environment for market participants.

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Press Release: STA Applauds Reduction in Section 31 Fees

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28 November 2006

The Security Traders Association (STA), the leading advocacy and
education organization for professional equity traders in the U.S., today applauds the reduction in Section 31 fees, which are collected on equity trades from the securities industry to fund the Securities and Exchange Commission (SEC).