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The Structure of the Options Market

Document Type

Article

Language

English (en)

Publication Date

1984

Publication Title

Journal of Corporation Law

Abstract

In 1975, the Supreme Court held that Securities and Exchange Commission (SEC) supervision of the fixing of reasonable rates of commission was not subject to the antitrust laws, and implied that SEC review of most market structure issues, if adequately observant of the procedural requirements of the Securities Exchange Act of 1934, would receive a similar exemption from the antitrust laws.

Nonetheless, both the SEC and Congress have emphasized competition in the regulation of the stock markets. At least since 1936, it has been a policy of the SEC to support the trading of securities listed on the New York Stock Exchange (NYSE) on the regional exchanges. This multiple trading of securities limits the ability of the NYSE to monopolize trading in its listed securities.

Keywords

Antitrust, Options Market

Publication Citation

Joel Seligman, The Structure of the Options Market, 10 J. Corp. L. 141 (1984)

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