Appendix F. List of Questionnaires and Record Books, with Selected Facsimiles

Total Page:16

File Type:pdf, Size:1020Kb

Appendix F. List of Questionnaires and Record Books, with Selected Facsimiles Appendix F. List of Questionnaires and Record Books, With Selected Facsimiles Page Page General Forms Census of Construction Industries NC-9901 Report of Organization ---------------------- 2 CC-1509 Building Construction—General NC-9926 Classification Report ------------------------ 5 Contractors and Operative Builders ----------------102 NC-9923 General Schedule --------------------------- 6 CC-1609 Heavy Construction Other Than Building Census of Retail Trade Construction—Contractors --------------------------106 CB-5202 Paint, Glass, Wallpaper --------------------- 8 CC-1729 Painting and Paper Hanging Special Trade Contractors ----------------------------------- 110 CB-5302 General Merchandise------------------------ 11 Census of Manufactures CB-5400 Food ------------------------------------------ 15 MA-1000(L) 1992 Annual Survey of Manufactures--- 114 CB-5504 Gasoline Service Stations------------------- 19 MC-2002 Meat Processing Plants--------------------- 118 Census of Wholesale Trade MC-2004 Dairy Products-------------------------------127 CB-5001 Short Form ----------------------------------- 23 Census of Mineral Industries CB-5012 Motor Vehicles ------------------------------- 25 MC-1001 Iron, Ferroalloy, Uranium, and CB-5013 Motor Vehicles Parts and Supplies --------- 29 Miscellaneous Metal Ores --------------------------138 CB-5099 Miscellaneous Durable Goods -------------- 33 MC-1301 Oil and Gas Field Operations --------------146 Census of Service Industries MC-1401 Stone, Sand, and Gravel -------------------153 CB-7001 Hotels and Motels --------------------------- 37 Census of Outlying Areas CB-7002 Miscellaneous Lodging Places-------------- 40 OA-9820 Puerto Rico ----------------------------------161 OA-9873 Virgin Islands of the United States ---------179 CB-7201 Laundry, Cleaning, and Related Services-- 43 OA-9863 Guam-----------------------------------------183 CB-7307 Computer and Data Processing Services -- 46 OA-9883 Northern Mariana Islands -------------------187 CB-7802 Motion Picture Theaters --------------------- 50 OA-9851 Record Book (The Virgin Islands of the CB-7903 Miscellaneous Amusement and Recreation United States, Guam, and the Northern Mariana Services---------------------------------------------- 52 Islands -----------------------------------------------190 CB-8001 Offices and Clinics of Physicians and OA-9852 Listing Sheet ---------------------------------191 Other Health Providers (Except Dentists)---------- 55 Survey of Minority-Owned Business Enterprises CB-8702 Accounting, Auditing, and Bookkeeping MB-1 Survey of Business Owners and Services---------------------------------------------- 58 Self-Employed Persons -----------------------------192 Transportation Surveys MB-2 Survey of Business Owners --------------------196 TC-9502 Truck Inventory and Use Survey------------ 61 MB-3 Survey of Business Owners --------------------199 CFS-1000 Commodity Flow Survey------------------- 72 Survey of Women-Owned Businesses Census of Transportation, Communications, and WB-1 Survey of Corporate Ownership----------------202 Utilities Enterprise Statistics CB-4100 Highway Passenger Transportation -------- 79 ES-9100 Enterprise Summary Report ----------------205 CB-4701 Arrangement of Passenger Transportation- 82 ES-9200 Auxiliary Establishment Report--------------212 CB-4801 Telephone and Telegraph Characteristics of Business Owners Survey Communications------------------------------------- 85 CBO-1 Characteristics of Business Owners Survey Census of Financial, Insurance, and Real Estate (Sole Proprietorship) --------------------------------218 Industries CBO-2 Characteristics of Business Owners Survey CB-6000 Depository and Related Institutions -------- 88 (Partnership or Subchapter S Corporation) CB-6200 Security and Commodity Brokers and Business Characteristics ----------------------------230 Services---------------------------------------------- 92 CBO-3 Characteristics of Business Owners Survey CB-6400 Insurance Agents, Brokers, and Services -- 95 (Partnership or Subchapter S Corporation) Owner CB-6503 Miscellaneous Real Estate ------------------ 98 Characteristics ---------------------------------------241 Note: The facsimiles of the questionnaires illustrated in this appendix are examples of those used in the 1992 Economic Census. HISTORY—1992 ECONOMIC CENSUS APPENDIX F F-1 F–2 APPENDIX F HISTORY–1992 ECONOMIC CENSUS HISTORY–1992 ECONOMIC CENSUS APPENDIX F F–3 F–4 APPENDIX F HISTORY–1992 ECONOMIC CENSUS T MEN OF C RT O A M P M E E D R . U.S. DEPARTMENT OF COMMERCE C S . E 1992 ECONOMIC CENSUSES CLASSIFICATION REPORT U BUREAU OF THE CENSUS B FORM U S R U S E N AU E OF THE C NC-9926 OMB No. 0607-0742: Approval Expires 06/30/94 © DUE DATE: 30 DAYS AFTER RECEIPT If you have questions about completing this report, please call or write the Census Bureau. In any communication, be sure to refer to the 11-digit Census File Number (CFN) printed in the label to the right. Return your completed form to: BUREAU OF THE CENSUS 1201 East 10th Street Jeffersonville, IN 47134-0001 Census use only (Please correct any error in name, address, and ZIP Code) YOUR RESPONSE IS REQUIRED BY LAW. Title 13, United States Code, requires businesses and other organizations that receive this questionnaire to answer the questions and return the report to the Census Bureau. By the same law, YOUR CENSUS REPORT IS CONFIDENTIAL. It may be seen only by Census Bureau employees and may be used only for statistical purposes. Further, copies retained © in respondents’ files are immune from legal process. Item 1 – EMPLOYER IDENTIFICATION NUMBER Is the Employer Identification (EI) Number shown in the label the SAME as the one used for this establishment on its latest 1992 Employer’s Quarterly Federal Tax Return, Treasury Form 941? 094 1 Yes 2 No – Report current – EI number (9 digits) - Item 2 – PHYSICAL LOCATION OF ESTABLISHMENT – b. Is this establishment physically located inside the Answer items a, b, c, and d legal boundaries of the city, town, village, etc.? NOTE – P.O. Boxes or rural routes are not physical locations. 095 1 Yes 2 No 3 No legal 4 Don’t a. 1 Same as shown in mailing label, if different, indicate change. boundaries know c. Type of municipality where physically located Number and street 096 1 City, village, 2 Town or 3 Other or or borough township don’t know d. Name of county where physically located City, town, village, etc. State ZIP Code Item 3 – BUSINESS OR ACTIVITY a. Mark (X) the ONE box which BEST describes your major type of activity during the past year. 070 1 MANUFACTURING 2 OTHER – Specify activity b. Mark (X) the ONE box which BEST describes your specific business or activity. Item 4 – CERTIFICATION – This report is substantially accurate and has been prepared in accordance with instructions. Name of person to contact regarding this report – Print or type Area code Number Extension Telephone Signature of authorized person Date PENALTY FOR FAILURE TO REPORT HISTORY–1992 ECONOMIC CENSUS APPENDIX F F–5 T MEN OF C RT O A M U. S. DEPARTMENT OF COMMERCE P M E E D R . C BUREAU OF THE CENSUS 1992 ECONOMIC CENSUSES S . E U FORM B U S R U E S GENERAL SCHEDULE N AU E OF THE C NC-9923 OMB No. 0607-0740: Approval Expires 06/30/94 © DUE DATE: 30 DAYS AFTER RECEIPT If you have any questions about completing this report, please call or NC-9923 write the Census Bureau. In any communication, be sure to refer to the 11-digit Census File Number (CFN) printed in the label to the right. Return your completed form to: BUREAU OF THE CENSUS 1201 East 10th Street Jeffersonville, IN 47134-0001 Census use only (Please correct any error in name, address, and ZIP Code) YOUR RESPONSE IS REQUIRED BY LAW. Title 13, United States Code, requires businesses and other organizations that receive this questionnaire to answer the questions and return the report to the Census Bureau. By the same law, YOUR CENSUS REPORT IS CONFIDENTIAL. It may be seen only by Census Bureau employees and may be used only for statistical purposes. Further, © copies retained in respondents’ files are immune from legal process. Item 1 – EMPLOYER IDENTIFICATION NUMBER WHOLESALE TRADE (W) Is the Employer Identification (EI) Number shown in the label the SAME as that used for this establishment on its latest 1992 Employer’s Principal Commodity Sold – Specify Quarterly Federal Tax Return, Treasury Form 941? 094 1 Yes 2 No – Enter current (9 digits) EI Number - Item 2 – PHYSICAL LOCATION OF ESTABLISHMENT Agent or broker Answer items a, b, c, and d Merchant NOTE: P.O. boxes or rural routes are not physical locations. Other type of wholesaler – Specify a. 1 Same as shown in mailing label. If different, indicate change. Number and Street (Specify source of receipts in ITEM 4) MANUFACTURING (M) City, Town, Village, etc. State ZIP Code Publishing, or Publishing and Printing – Specify b. Is this establishment physically located inside the legal boundaries of the city, town, village, etc? (Specify source of receipts in ITEM 4) 095 1 Yes 3 No legal boundaries 275200 4 Commercial printing, lithographic 2 No 4 Don’t know Other commercial printing – Specify c. Type of municipality where physically located 096 1 City, village, or borough 3 Other or don’t know (Specify source of receipts in ITEM 4) 2 Town or Township d. Name of county where physically located 241100 7 Logging camps and logging contractors 359900 8 Machine shop, jobbing and repair Item 3 – BUSINESS OR ACTIVITY Other manufacturing – Specify Mark (X) the ONE box which best describes the PRINCIPAL activity of this establishment
Recommended publications
  • The Future of Computer Trading in Financial Markets an International Perspective
    The Future of Computer Trading in Financial Markets An International Perspective FINAL PROJECT REPORT This Report should be cited as: Foresight: The Future of Computer Trading in Financial Markets (2012) Final Project Report The Government Office for Science, London The Future of Computer Trading in Financial Markets An International Perspective This Report is intended for: Policy makers, legislators, regulators and a wide range of professionals and researchers whose interest relate to computer trading within financial markets. This Report focuses on computer trading from an international perspective, and is not limited to one particular market. Foreword Well functioning financial markets are vital for everyone. They support businesses and growth across the world. They provide important services for investors, from large pension funds to the smallest investors. And they can even affect the long-term security of entire countries. Financial markets are evolving ever faster through interacting forces such as globalisation, changes in geopolitics, competition, evolving regulation and demographic shifts. However, the development of new technology is arguably driving the fastest changes. Technological developments are undoubtedly fuelling many new products and services, and are contributing to the dynamism of financial markets. In particular, high frequency computer-based trading (HFT) has grown in recent years to represent about 30% of equity trading in the UK and possible over 60% in the USA. HFT has many proponents. Its roll-out is contributing to fundamental shifts in market structures being seen across the world and, in turn, these are significantly affecting the fortunes of many market participants. But the relentless rise of HFT and algorithmic trading (AT) has also attracted considerable controversy and opposition.
    [Show full text]
  • Evidence from the Toronto Stock Exchange
    The impact of trading floor closure on market efficiency: Evidence from the Toronto Stock Exchange Dennis Y. CHUNG Simon Fraser University and Karel HRAZDIL* Simon Fraser University This draft: July 1, 2013 For the 2013 Auckland Finance Meeting Abstract: We are the first to evaluate the impact of the trading floor closure on the corresponding efficiency of the stock price formation process on the Toronto Stock Exchange (TSX). Utilizing short-horizon return predictability as an inverse indicator of market efficiency, we demonstrate that while the switch to all electronic trading resulted in higher volume and lower trading costs, the information asymmetry among investors increased as more informed and uninformed traders entered the market. The TSX trading floor closure resulted in a significant decrease in informational efficiency, and it took about six years for efficiency to return to its pre-all-electronic-trading level. In multivariate setting, we provide evidence that changes in information asymmetry and increased losses to liquidity demanders due to adverse selection account for the largest variations in the deterioration of the aggregate level of informational efficiency. Our results suggest that electronic trading should complement, rather than replace, the exchange trading floor. JEL Codes: G10; G14 Keywords: Electronic trading; Trading floor; Market efficiency; Toronto Stock Exchange. * Corresponding author. Address of correspondence: Beedie School of Business, 8888 University Drive, Simon Fraser University, Burnaby, B.C., V5A 1S6, Canada; Phone: +1 778 782 6790; Fax: +1 778 782 4920; E-mail addresses: [email protected] (D.Y. Chung), [email protected] (K. Hrazdil). We acknowledge financial support from the CA Education Foundation of the Institute of Chartered Accountants of British Columbia and the Social Sciences and Humanities Research Council of Canada.
    [Show full text]
  • United States
    IMF Country Report No. 15/91 UNITED STATES FINANCIAL SECTOR ASSESSMENT PROGRAM April 2015 DETAILED ASSESSMENT OF IMPLEMENTATION ON THE IOSCO OBJECTIVES AND PRINCIPLES OF SECURITIES REGULATION This Detailed Assessment of Implementation on the IOSCO Objectives and Principles of Securities Regulation on the United States was prepared by a staff team of the International Monetary Fund. It is based on the information available at the time it was completed in March 2015. Copies of this report are available to the public from International Monetary Fund Publication Services 700 19th Street, N.W. Washington, D.C. 20431 Telephone: (202) 623-7430 Telefax: (202) 623-7201 E-mail: [email protected] Internet: http://www.imf.org Price: $18.00 a copy International Monetary Fund Washington, D.C. © 2015 International Monetary Fund UNITED STATES DETAILED ASSESSMENT OF March 2015 IMPLEMENTATION IOSCO OBJECTIVES AND PRINCIPLES OF SECURITIES REGULATION Prepared By This Detailed Assessment Report was prepared in the Monetary and Capital context of an IMF Financial Sector Assessment Markets Department Program (FSAP) mission in the United States during October-November 2014, led by Aditya Narain, IMF and overseen by the Monetary and Capital Markets Department, IMF. Further information on the FSAP program can be found at http://www.imf.org/external/np/fsap/fssa.aspx. UNITED STATES CONTENTS GLOSSARY _________________________________________________________________________________________ 3 EXECUTIVE SUMMARY ___________________________________________________________________________
    [Show full text]
  • Providing the Regulatory Framework for Fair, Efficient and Dynamic European Securities Markets
    ABOUT CEPS Founded in 1983, the Centre for European Policy Studies is an independent policy research institute dedicated to producing sound policy research leading to constructive solutions to the challenges fac- Competition, ing Europe today. Funding is obtained from membership fees, contributions from official institutions (European Commission, other international and multilateral institutions, and national bodies), foun- dation grants, project research, conferences fees and publication sales. GOALS •To achieve high standards of academic excellence and maintain unqualified independence. Fragmentation •To provide a forum for discussion among all stakeholders in the European policy process. •To build collaborative networks of researchers, policy-makers and business across the whole of Europe. •To disseminate our findings and views through a regular flow of publications and public events. ASSETS AND ACHIEVEMENTS • Complete independence to set its own priorities and freedom from any outside influence. and Transparency • Authoritative research by an international staff with a demonstrated capability to analyse policy ques- tions and anticipate trends well before they become topics of general public discussion. • Formation of seven different research networks, comprising some 140 research institutes from throughout Europe and beyond, to complement and consolidate our research expertise and to great- Providing the Regulatory Framework ly extend our reach in a wide range of areas from agricultural and security policy to climate change, justice and home affairs and economic analysis. • An extensive network of external collaborators, including some 35 senior associates with extensive working experience in EU affairs. for Fair, Efficient and Dynamic PROGRAMME STRUCTURE CEPS is a place where creative and authoritative specialists reflect and comment on the problems and European Securities Markets opportunities facing Europe today.
    [Show full text]
  • Metal Men Metal Men Marc Rich and the $10 Billion Scam A
    Metal Men Metal Men Marc Rich and the $10 Billion Scam A. Craig Copetas No part of this publication may be reproduced or transmitted in any form or by any means, electronic, or mechanical, including photocopy, recording, scanning or any information storage retrieval system, without explicit permission in writing from the Author. © Copyright 1985 by A. Craig Copetas First e-reads publication 1999 www.e-reads.com ISBN 0-7592-3859-6 for B.D. Don Erickson & Margaret Sagan Acknowledgments [ e - reads] Acknowledgments o those individual traders around the world who allowed me to con- duct deals under their supervision so that I could better grasp the trader’s life, I thank you for trusting me to handle your business Tactivities with discretion. Many of those traders who helped me most have no desire to be thanked. They were usually the most helpful. So thank you anyway. You know who you are. Among those both inside and outside the international commodity trad- ing profession who did help, my sincere gratitude goes to Robert Karl Manoff, Lee Mason, James Horwitz, Grainne James, Constance Sayre, Gerry Joe Goldstein, Christine Goldstein, David Noonan, Susan Faiola, Gary Redmore, Ellen Hume, Terry O’Neil, Calliope, Alan Flacks, Hank Fisher, Ernie Torriero, Gordon “Mr. Rhodium” Davidson, Steve Bronis, Jan Bronis, Steve Shipman, Henry Rothschild, David Tendler, John Leese, Dan Baum, Bert Rubin, Ernie Byle, Steven English and the Cobalt Cartel, Michael Buchter, Peter Marshall, Herve Kelecom, Misha, Mark Heutlinger, Bonnie Cutler, John and Galina Mariani, Bennie (Bollag) and his Jets, Fredy Haemmerli, Wil Oosterhout, Christopher Dark, Eddie de Werk, Hubert Hutton, Fred Schwartz, Ira Sloan, Frank Wolstencroft, Congressman James Santini, John Culkin, Urs Aeby, Lynn Grebstad, Intertech Resources, the Kaypro Corporation, Harper’s magazine, Cambridge Metals, Redco v Acknowledgments [ e - reads] Resources, the Swire Group, ITR International, Philipp Brothers, the Heavy Metal Kids, and .
    [Show full text]
  • Trading Around the Clock: Global Securities Markets and Information Technology
    Acronyms and Glossary Acronyms ACT —Automated Confirmation Transaction LIFFE —London International Financial Futures [System] (NASD) Exchange ADP —Automatic Data Processing, Inc. MATIF —Financial Futures Market (France) ADR —American Depository Receipt MOF —Ministry of Finance (Japan) AMEx —American Stock Exchange MONEP —Paris Options Market (France) BIS —Bank for International Settlement MOU —Memoranda of Understanding BOTCC —Board of Trade Clearing Corp. MSE —Midwest Stock Exchange CBOE -Chicago Board Options Exchange NASD —National Association of Securities Dealers CBOT —Chicago Board of Trade NASDAQ —NASD Automated Quotation system CCITT -Comite Consultatif International Nikkei 225 —Nikkei 225 futures contracts (Japan) Telegraphique et Telephon (International NSCC —National Stock Clearing Corp. Telecommunications Union) NYMEX —New York Mercantile Exchange —Commodity Exchange Act NYSE —New York Stock Exchange CEDEL —Centrale de Livraison de Valeurs OCC -Options Clearing Corp. (U.S.) Mobilieres OECD -Organization for Economic Cooperation CFTC —Commodity Futures Trading Commission and Development (U.S.) ONA -Open network architecture (of computer CME -Chicago Mercantile Exchange systems) CNs -Continuous Net Settlement OSE -Osaka Stock Exchange (Japan) DTC —Depository Trust Corp. OSF50 -Osaka Securities Exchange Stock Futures DVP -delivery-versus-payment (Japan) EC —European [Economic] Community OTC -Over-the-counter FIBv —Federation International des Bourses de PHLX —Philadelphia Stock Exchange Valeurs PSE —Pacific Stock Exchange —Federal
    [Show full text]
  • CFTC Letter 02-27
    CFTC Letter 02-27 CFTC Letter No. 02-27 March 21, 2002 Interpretation Division of Trading and Markets Re: Section 4e of the Commodity Exchange Act Dear: This is in response to your letter dated December 4, 2001, to the Division of Trading and Markets ("Division") of the Commodity Futures Trading Commission ("Commission"). By your correspondence, you request, on behalf of the “X”, acting for the benefit of its members, confirmation that "X” individual traders and “X” executing brokerage firms meet the requirements of Sections 4k(5) and 4f(a)(3) of the Commodity Exchange Act (the "Act"),[1] respectively, and are, therefore, exempt from the registration requirements of Section 4e of the Act. Section 4e of the Act provides that any person acting as a floor broker ("FB") or floor trader ("FT") must be registered as such with the Commission.[2] Section 4k(5) of the Act provides that any associated person of a registered securities broker or dealer ("BD")[3] that limits its "solicitation of orders, acceptance of orders, or execution of orders, or placing of orders on behalf of others involving [futures contracts] or any option on such a contract, on or subject to the rules of any contract market or registered derivatives transaction execution facility to security futures products, shall be exempt from . [Section 4e of the Act]."[4] Section 4f(a)(3) of the Act provides that an FB or FT is exempt from the registration requirements of Section 4e of the Act if: (1) the FB or FT is a registered securities BD; (2) the FB or FT limits its activities on behalf of others involving futures contracts to security futures products; and (3) the FB's or FT's registration with the Securities and Exchange Commission ("SEC") is not suspended pursuant to an order of the SEC.[5] Individual Traders In your letter, you described “X” individual traders as composed of floor traders, retail floor brokers, and executing floor brokers.
    [Show full text]
  • 19-14 No-Action June 27, 2019
    CFTC Letter No. 19-14 No-Action June 27, 2019 U.S. COMMODITY FUTURES TRADING COMMISSION Three Lafayette Centre 1155 21st Street, NW, Washington, DC 20581 Telephone: (202) 418-5000 Division of Swap Dealer and Matthew B. Kulkin Intermediary Oversight Director Re: No-Action Relief for Certain Conditions of the Floor Trader Provision Ladies and Gentlemen: This letter is in response to a request from FIA Principal Traders Group (“FIA PTG”) to the Division of Swap Dealer and Intermediary Oversight (“DSIO”) of the Commodity Futures Trading Commission (“Commission”) requesting relief from certain conditions in paragraph (6)(iv) of the “swap dealer” definition in Commission regulation (“Regulation”) 1.31 (hereinafter, the “Floor Trader Provision”). DSIO is hereby granting the relief requested, subject to the conditions set forth below. Regulatory Background Regulation 1.3 defines the term “swap dealer,” and provides certain exceptions and exclusions from the defined term. The Floor Trader Provision provides that a registered floor trader (“Floor Trader”) need not consider cleared swaps executed on or subject to the rules of a designated contract market or swap execution facility (hereinafter, “DCM and SEF Cleared Swaps”) when determining whether the Floor Trader is a swap dealer if certain conditions are satisfied. Such swaps would not be considered when determining whether a Floor Trader’s swap dealing activity exceeds the de minimis threshold for swap dealer registration contained in the “swap dealer” definition (“SD De Minimis Threshold”). The Floor Trader Provision applies where the Floor Trader: (A) Is registered with the Commission as a Floor Trader; (B) Only enters into swaps with proprietary funds for that trader’s own account that are DCM and SEF Cleared Swaps; (C) Is not an affiliated person of a swap dealer; 1 17 CFR § 1.3.
    [Show full text]
  • Trading Smart
    TRADING SMART 92 Tools, Methods and Helpful Hints to Help You Succeed at Futures Trading1 by Jim Wyckoff This publication is protected by International Copyright © 2003. All rights reserved. Reproduction in any form, electronic or mechanical, in whole or in part, is strictly prohibited without written permission from Jim Wyckoff. Hello, my name is Jim Wyckoff. I am the proprietor of the analytical, educational and trading advisory service, "Jim Wyckoff on the Markets." I am also the chief technical analyst for FutureSource.com and for the OsterDowJones newswire. I was also the head equities analyst at CapitalistEdge.com. For nearly 20 years I have been immersed in markets and trading. Indeed, markets, trading and educating traders are my passion. In this information-packed book, I will share with you—in plain English—the trading philosophies and methodologies that have allowed me to survive and succeed in a fascinating but very challenging field of endeavor: Trading futures. I will also touch upon other important topics about which traders need to know in order to survive and succeed in futures trading. I think you will enjoy the format of this book: short chapters that are easily comprehended. Too many times in this industry, books on trading have been so technical and complicated that traders find themselves swimming in a sea of market statistics, computer code or mathematical formulas. You will find none of that in this book. What you will find are important lessons and anecdotes that will move you up the ladder of trading success. You will also discover valuable trading tools that you can incorporate into your own trading plan of action.
    [Show full text]
  • Conflict of Interest and Execution Quality of Futures Floor Traders
    Conflict of Interest and Execution Quality of Futures Floor Traders Asani Sarkar The Federal Reserve Bank of New York Research Department 33 Liberty Street New York, NY 10045 212-720-8943 Fax: 212-720-1582 E-mail: [email protected] Lifan Wu California State University, Los Angeles Department of Finance and Law 5151 State University Drive Los Angels, CA 90032 323-343-2874 E-mail: [email protected] Current version: October 2000 Previous version: April 1999 We are grateful to the Commodity Futures Trading Commission and the Chicago Mercantile Exchange for the data. We thank an anonymous referee and the editor (Larry Glosten) for comments. We also thank Bruno Biais, Peter Bossaerts, Michael Fleming, Peter Locke, Charles Jones, James Moser, Mathew Rhodes-Kropf, Tony Rodrigues, Tavy Ronen, Hyun Shin, George Sofianos, Chester Spatt and Kent Womack. This paper has benefited from seminar presentations at the Society of Financial Studies (SFS) Conference on Price Formation, Toulouse, and at the Federal Reserve Bank of New York. The views stated here are those of the authors and do not necessarily reflect the views of the Federal Reserve Bank of New York, or the Federal Reserve System. We are responsible for all errors. Conflict of Interest and Execution Quality of Futures Floor Traders Abstract We study the quality of customer trades executed by futures floor traders and, in particular, by dual traders (floor traders who trade both for their own accounts and for customers on the same day). In the S&P 500 futures, we show that active dual traders provide inferior execution of customer trades relative to their personal trades and relative to pure brokers, even after controlling for differences in trade size, volatility, and volume.
    [Show full text]
  • Take Stock in Your Future
    TAKE STOCK IN YOUR FUTURE 1 Team Workbook NAME_______________ SESSION ONE UNDERSTANDING STOCKS Welcome to Junior Achievement's Take Stock in Your Future. You will be using this guide during the 5 sessions that make up the classroom portion of the program. By the end of the program, you will understand the fundamentals of the stock market, and participating students will be prepared to compete in the JA Student Stock Market Challenge event. During the JA Student Stock Market Challenge, you will see boards that look like this. Notice that company names are abbreviated. This is called the stock symbol. Some familiar companies and their corresponding stock symbols are: American Eagle Outfitters (AEO); Bank of America (BAC); Delta Airlines (DAL); Domino’s Pizza (DPZ) and Sea World Entertainment (SEAS). In these activities, we are going to use a fictitious exchange made up of 6 different stocks. Your job will be to select a portfolio from these stocks. A portfolio is a grouping of financial assets such as stocks, bonds, and cash equivalents. You will have $10,000 in fictitious cash to spend on your initial investment. Whatever money you do not use to buy stock will be held in cash. Over the next sessions, you will see how your stocks perform. You will need to buy and sell the stocks you own in order to maximize the value of your portfolio. 2 Stock Options Today we will be purchasing stocks to put into your individual portfolio. You have $10,000 to spend. You must purchase stock in lots of 100 shares only (100, 200, 300, etc).
    [Show full text]
  • Discussion Papers
    Consulting Assistance on Economic Reform II Discussion Papers The objectives of the Consulting Assistance on Economic Reform (CAER II) project are to contribute to broad-based and sustainable economic growth and to improve the policy reform content of USAID assistance activities that aim to strengthen markets in recipient countries. Services are provided by the Harvard Institute for International Development (HIID) and its subcontractors. It is funded by the U.S. Agency for International Development, Bureau for Global Programs, Field Support and Research, Center for Economic Growth and Agricultural Development, Office of Emerging Markets through Contracts PCE-C-00-95-00015-00 and PCE-Q-00-95-00016-00. Integration of Stock Exchanges in Europe, Asia, Canada and the U.S. Philip Wellons CAER II Discussion Paper No. 14 April 1998 The views and interpretations in these papers are those of the authors and should not be attributed to the Agency for International Development, the Harvard Institute for International Development, or CAER II subcontractors. For information contact: CAER II Project Office Harvard Institute for International Development 14 Story Street Cambridge, MA 02138 USA Tel: (617) 495-9776; Fax: (617) 495-0527 Email: [email protected] INTEGRATION OF STOCK EXCHANGES IN REGIONS IN EUROPE, ASIA, CANADA, AND THE U.S. Philip A. Wellons Program on International Financial Systems Harvard Law School April 1997 Not for publication. Please do not duplicate without author's permission. TABLE OF CONTENTS I. INTRODUCTION......................................................................................................................1
    [Show full text]