The Securities and Exchange Commission on Friday charged the New York Stock Exchange for giving some customers a jump start on key market data.

The NYSE agreed to a $5 million fine.

The stock exchange allegedly sent important market data and stock quotes to some customers before sharing it with the public in the “consolidated feeds.”

The SEC’s Regulation NMS prohibits this type of behavior and requires the best prices be shares with the public.

According to the SEC, the NYSE violated the rule starting in 2008.

It’s the latest chapter in the controversial move by the stock exchanges to become for-profit entities. The NYSE had been owned by its members for decades, but started trading publicly as NYSE Euronext (NYX) in 2004.

Some traders have increasingly complained that the exchange is acting as a business looking to maximize its own profit, rather than providing a fair trading environment for all market participants.

“Improper early access to market data, even measured in milliseconds, can in today’s markets be a real and substantial advantage that disproportionately disadvantages retail and long-term investors,” said Robert Khuzami, Director of the SEC’s Division of Enforcement.

“That is why SEC rules mandate that exchanges give the public fair access to basic market data. Compliance with these rules is especially important given exchanges’ for-profit business interests.”

In response Friday, NYSE Euronext Chief Executive Officer Duncan Niederauer said in a statement, “NYSE Euronext is committed to the highest standards of integrity and accountability. The timing differentials stemmed from technology issues, not from intentional wrongdoing by the exchange or any of its personnel.”

http://www.usatoday.com/money/markets/story/2012/09/14/nyse-fined-for-giving-some-customers-non-public-data/57781548/1