] Federal regulators say the specialists engaged in two ] illegal trading schemes: using knowledge of a trade to ] deal in front of it, and "interpositioning," which occurs ] when a specialist intervenes in a trade rather than ] matching buy and sell orders. ] ] The 15 specialists indicted, all but two of whom have ] left their firms, were members of the New York Stock ] Exchange's five major specialist trading companies. They ] are accused of making illegal trading profits from ] interpositioning of $13.4 million and costing investors ] more than $19 million from trading for their firms' ] accounts ahead of customers. This is how the little guy always gets screwed. |