Gordon v. New York Stock Exchange, Inc., et al.

Decided June 26, 1975. Harry Andrew Blackmun delivered the opinion of the Court.

Docket 74-304 · 422 U.S. 659 (1975) · Cited 203 times

Holding

The system of fixed commission rates, which is under the active supervision of the SEC, is beyond the reach of the antitrust laws.

The Court’s statement of the holding, from the opinion’s syllabus. The syllabus is prepared by the Reporter of Decisions and is not part of the opinion of the Court — read the official opinion for authority.

How the Justices voted

Decided 9–0.

“Concurring” means agreeing with the outcome; any split shown is the Court’s judgment, not each Justice’s reasoning. Source: the Supreme Court Database (Spaeth et al.), Washington University.

Precedents cited

Supreme Court decisions this opinion relies on, ordered by how often it cites each. Cases in our collection link through; others are named.

• Silver v. New York Stock Exchange · 373 U.S. 341 (1963)
• United States v. Philadelphia National Bank · 374 U.S. 321 (1963)
• Ricci v. Chicago Mercantile Exchange · 409 U.S. 289 (1973)
• Hughes Tool Co. v. Trans World Airlines, Inc. · 409 U.S. 363 (1973)
• Merrill Lynch, Pierce, Fenner & Smith, Inc. v. Ware · 414 U.S. 117 (1973)
• United States v. Borden Co. · 308 U.S. 188 (1939)
• Otter Tail Power Co. v. United States · 410 U.S. 366 (1973)
• United States v. Trenton Potteries Co. · 273 U.S. 392 (1927)
• Georgia v. Pennsylvania Railroad · 324 U.S. 439 (1945)
• Pan American World Airways, Inc. v. United States · 371 U.S. 296 (1963)
• Carnation Co. v. Pacific Westbound Conference · 383 U.S. 213 (1966)

Cited by

Later Supreme Court opinions in our collection that cite this case.

• Radzanower v. Touche Ross & Co. · 426 U.S. 148 (1976)
• Cantor v. Detroit Edison Co. · 428 U.S. 579 (1976)
• Epic Systems Corp. v. Lewis · 584 U.S. 497 (2018)
• Verizon Communications Inc. v. Law Offices of Curtis v. Trinko, LLP · 540 U.S. 398 (2004)
• Branch v. Smith · 538 U.S. 254 (2003)
• Brown v. Pro Football, Inc. · 518 U.S. 231 (1996)

Official text

Read the official opinion (U.S. Reports, govinfo.gov)

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Source: Supreme Court of the United States, slip opinions (1975). Citation count from the Free Law Project’s CourtListener bulk data. Data last verified 2026-07-03. Informational only; verify against the primary source before relying. Not a consumer report (FCRA).