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But the changes in trading practices did not cause Enron's demise, he added.
Yesterday, two big power companies, Duke Energy and Mirant, denied that they had engaged in trading practices to drive up the price of electricity.
Ownership of seats has become less desirable because of the protracted bear market, competition among exchanges, the birth of a purely electronic market and shifts in trading practices that make options prices more transparent.
Executives at the trading firms worry that new regulations could curtail business even more, but so far regulators in the United States have taken few steps to rein in trading practices.
And while some of us might fancy ourselves as adventurers, we have for the most part degenerated into cheap-flight-enabled tourists Vasco da Gama and Ibn Battuta would not be impressed.Mr Chanda traces advances in trading practices and technology from donkeys and camels to container ships and cargo planes but is just as good at pointing out deep historical continuities.
For its part, America will need to prevent legitimate domestic calls for basic fairness in trading practices to become a pretext for harmful protectionism, work toward balancing its budget, and support a stronger Asian voice in the United Nations Security Council, in an expanded G-8 and in the international financial institutions particularly the International Monetary Fund.
Similar(54)
The settlement is the first in the attorney general's inquiry into trading practices in the market in which wholesalers trade drugs among themselves after they are sold by manufacturers, but before they are bought by pharmacies and hospitals.
Alliance Capital Management, one of the nation's largest money managers, said yesterday that it had suspended two executives over improper trading in its mutual funds, after inquiries by regulators into trading practices in the fund industry.
Mr Spitzer, who extracted $1.4 billion from investment banks for alleged conflicts of interest between their research and banking arms, has said he intends to get fund managers to repay all fees earned in funds engaged in dubious trading practices.
The Securities and Exchange Commission accused the company's former day trading unit, Datek Securities, of making hundreds of millions of dollars in profits by engaging in illegal trading practices and fraudulent bookkeeping.
Bank shares initially dropped on worries that profits would fall if the government reined in risky trading practices.
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