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SILVER v. NEW YORK STOCK EXCHANGE

No. 150.

373 U.S. 341 (1963)

SILVER, DOING BUSINESS AS MUNICIPAL SECURITIES CO., ET AL. v. NEW YORK STOCK EXCHANGE.

Supreme Court of United States.

Decided May 20, 1963.

Attorney(s) appearing for the Case

David I. Shapiro argued the cause and filed briefs for petitioners.

A. Donald MacKinnon argued the cause for respondent. With him on the brief were Samuel L. Rosenberry and Edward J. Reilly, Jr.

By special leave of Court, Solicitor General Cox argued the cause for the United States, as amicus curiae, urging reversal. With him on the brief was Daniel M. Friedman.

MR. JUSTICE GOLDBERG delivered the opinion of the Court.

We deal here today with the question, of great importance to the public and the financial community, of whether and to what extent the federal antitrust laws apply to securities exchanges regulated by the Securities Exchange Act of 1934. More particularly, the question is whether the New York Stock Exchange is to be held liable to a nonmember broker-dealer under the...

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