NYSE hit with $5m penalty

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The Independent Online

The New York Stock Exchange (NYSE) is to pay $5m (£3m) to resolve US civil charges that it gave certain customers "an improper head start" on trading information, marking the first time a US exchange has faced a financial penalty from market regulators.

The NYSE said the Wall Street regulator was not alleging "any intentional misconduct or that the NYSE data delays caused any investor harm", adding that it would retain an independent consultant to review its systems.

The exchange operator said technology upgrades in 2010 and 2011 corrected the problems at the centre of the Securities and Exchange Commission's investigation, which saw some customers receive data feeds seconds ahead of the public.