high frequency trading

It’s because he has to. Read more »

And the flaxen-maned former CFTC commissioner said it—basically the same high-frequency traders aren’t evil but should be regulated stuff he pedaled during his regulatory years—with nary a metaphor or folklore reference in sight. Read more »

Until recently, like, say, this morning, Bill White headed the group that made headlines this week for fraud (allegedly lying to clients about high frequency trading, this and that). And, technically, he’s still got his job, though for the time being it will involve answering questions posed by Attorney General Eric Schneiderman, and not coming within 200 feet of clients. Obviously, CEO Antony Jenkins would prefer to fire White or at the very least spend an hour or so pelting him crumpets, since he really kind of put his boss in an awkward spot in light of the whole promise Jenkins made re: Barclays not being the kind of bank that does this kind of stuff anymore. But time and place, etc. Read more »

Chad Johnson, head of New York’s Investor Protection Bureau, told a conference today that while Attorney General Eric Schneiderman examines trading practices, Wall Street should help by suggesting ways to change for the better. It would be a mistake to think concerns about stock-market fairness are just bad publicity or extreme language used by critics, he said…He welcomed moves by some dark pools to make certain regulatory filings public. He said he hopes high-frequency trading firms and dark-pool operators “will engage in some soul-searching and step forward with ideas about how certain practices ought to be curtailed and reformed for the better.” [Bloomberg]

The government wants to make sure that the Elect are remaining on a righteous path. Read more »

They won’t be able to enforce it, but they’ll promulgate the rule all the same. Read more »

  • 02 May 2014 at 3:07 PM

SEC Official: You’re Not Dealing With Morons Here

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]