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The Third Market Corporation

The Third Market Corporation (CRD #30181, Chicago, Illinois) received a censure and fine of $19,500. The firm is also required required to pay $223.76 plus interest in restitution to public customers. According to the findings, the firm bought shares of securities for its market-making account while holding unexecuted customer limit orders and failed to display customer limit orders immediately when the orders were at a price that would have improved the firmís bid or offer in each security related to those orders. Additionally, the firm failed to report transactions to ACT correctly and to maintain the time of entry of an order on a brokerage order memorandum. The firm accepted the fine and censure but did not admit or deny the accusations. (NASD Case #CMS000006)

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