SEC Approves Stock Baskets: As expected, the...

SEC Approves Stock Baskets: As expected, the Securities and Exchange Commission approved new financial instruments called “stock baskets,” which would mirror price movements of large groups of stocks such as those in the Standard & Poor’s 500 index. The basket proposals were made by the American and Philadelphia stock exchanges and the Chicago Board Options Exchange. However, disputes about whether the instruments should be treated as stocks, futures or other investments are likely to delay their introduction for months.