What to Eric Schneiderman’s naked eye appears as fraud, Barclays customers apparently understand is just totally legitimate ways of doing business, according to the bank. Therefore, it wants this dark pools lawsuit dismissed and never mentioned again. Not once! Read more »
Gregg Berman of the Securities and Exchange Commission has a message for those doubting that the regulator understands the U.S. stock market in the era of light-speed trading: You’re wrong. Berman, one of the SEC’s top advisers on high-frequency firms, dark pools and other elements of computerized markets, is facing pressure to respond to claims his agency has failed to police exchanges and has permitted speed traders to put other investors at a disadvantage. Other authorities, including New York Attorney General Eric Schneiderman, have announced their own probes into the issue. In remarks today at an Options Industry Conference near Austin, Texas, Berman aimed a rebuttal at critics and “maybe an attorney general” who might think “regulators are very behind the times and can’t keep up with market participants.” [Bloomberg]
Mary Jo White may not think that high-frequency trading constitutes “unlawful insider-trading.” But New York Attorney General Eric Schneiderman is wondering whether it mightn’t be Insider Trading 2.0®. Read more »
The Financial Times has an article today called “Greece reaches agreement with ‘troika’ on bailout tranche” and I’m not going to tell you about it but you can go read it if you want. If you’re an FT subscriber just click on this link and there you are. If not, maybe try typing that title into Google and clicking on the first result you get; that’ll probably work, no guarantees. Or, like, go buy a copy of the paper?
That’s the way a lot of news works: if you have an internet connection and a desire to get it, you probably can, but if for idiosyncratic reasons you want to get it quickly and reliably – say, you invest in Greek debt and need to know what’s going on for trading purposes – the way to do that is to pay for it. As a corollary, the way to get more of it more quickly and reliably is to pay more for it. If you clicked that link and you’re not a subscriber you probably saw something like this: Read more »