US regulators and specialist firms at the New York Stock Exchange (NYSE) have reached a provisional agreement for a $240m (€186m) settlement over improper trading.

Stephen Cutler, director of enforcement at the Securities and Exchange Commission (SEC), has succeeded in driving through a settlement by the deadline he set last week. Late on Tuesday the two sides came to an agreement to end an investigation into improper trading that started about one year ago, and which has been a blight on the NYSE.