AMEX Chairman & Ceo Salvatore Sodano's Response To SEC's Comments On Payment For Order Flow

"The American Stock Exchange has been adamant in its opposition to payment for order flow. Last October, I urged regulators to act immediately to end the practice of payment for order flow once and for all. I am pleased that the SEC has begun the process of taking action in this regard.

As I have consistently stated, payment for order flow is not in the best interest of investors and violates the spirit and intent of best execution requirements. Now, more than ever, we need to ensure that we are taking every possible step to restore investor confidence in the marketplace. Ending the practices of payment for order flow and internalization will be a big positive step in that direction."