I guess the era of millisecond trading might be severely curtailed if the New York Attorney General gets his way.
"Rather than curbing the worst threats posed
by high-frequency traders, our markets, as structured today, are
increasingly too focused on catering to them," he said on Tuesday in a
speech at New York Law School.
Schneiderman
has begun meetings with the exchanges and alternative trading venues to
discuss reforms, according to a person familiar with the situation.
He also looks like he will be going after so-called "dark pools" where big investors have to go in order to buy large amounts of stock to avoid tipping off high frequency traders that inflate prices on them. It would be interesting to see if he can get this done in order to avoid another "flash crash" or other nonsense caused by these traders.
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