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And that is only a start, because the NASD system is glacially slow, reporting prices with a 30-minute delay.
The energy commission found that the system for reporting prices for gas and power trades -- surveys done by industry publications -- may have been manipulated by traders.
Some traders have stopped reporting prices to publishers amid a sharp downturn in the profitability of natural gas and power trading operations.
London is the only place bucking the weak trend, with 30% more surveyors reporting prices on the rise than falling, with the capital also seeing the strongest level of new buyer enquiries.
The Commodity Futures Trading Commission sued the American Electric Power Company yesterday, accusing it of falsely reporting prices in an effort to manipulate the natural gas market from at least November 2000 through October 2002.
The lag in reporting prices in New York is particularly long for two reasons: Co-op sales that require the approval of co-op boards, and sales in new condominiums that have gone into contract many months or even a year before closings.
Similar(47)
· House prices fell for the fourth consecutive month, with no counties reporting price increases, the Hometrack October survey of the national housing market has shown.
The mismatch between demand and supply appeared to be keeping prices buoyant and Rics said the number of members reporting price rises had hit an 11-month high.
Its latest survey for Scotland records a balance of 52% more chartered surveyors reporting price increases.
On Tuesday night, the last time Putnam reported prices for the fund, its shares were still worth a dollar.
Our reported prices come from published reports and brokers who are in the know.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com