Spear, Leeds & Kellogg

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Spear, Leeds & Kellogg
Founded 1931
Headquarters Jersey City, NJ
Employees 2,500

Spear, Leeds & Kellogg Specialists LLC is a specialist on the New York Stock Exchange. It is a subsidiary of Goldman Sachs Group. The firm was founded as in 1931 as Spear, Leeds & Co. by Harry Spear and Larry Leeds. James Kellogg joined the firm in 1941.[1]

Goldman Sachs acquired it in 2000.

In addition to its market maker services, it also offers clearing, trading, and reporting tools. It also offers financing to customers and loans out stocks, especially hard-to-borrow securities. In addition it provides custody reporting services and a Web-based portfolio accounting system.

History

SLK has long been known as a leading specialist on the New York Stock Exchange. In 2004 SLK and four other specialist firms paid $240 million to settle with the Securities and Exchange Commission (SEC), which accused them of "front-running," artificially inflating the price of shares they held as a way to skim additional profits.

Products and Services

Market making, clearing, and reporting tools

Key People

References

  1. Spear, Leeds & Kellogg. fundinguniverse.com.