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| Subject: SEC Looking to Ban Flash Orders Wed Aug 05, 2009 1:23 am | |
| The SEC said it is looking to ban a form of high-speed financial trading that some brokerages have exploited to gain an advantage in buying and selling stocks.
The SEC is looking at prohibiting so-called flash orders, which allow traders with advanced computers to quickly analyze data about imminent trades before they are posted for other investors, giving them a leg up in trades.
"I have asked the staff for an approach that can be quickly implemented to eliminate the inequity that results from flash orders," SEC Chairman Mary L. Schapiro said in a statement.
Any proposal to eliminate the orders would have to be approved by the entire commission and be open to public comment before going into effect.
http://www.washingtonpost.com/wp-dyn/content/article/2009/08/04/AR2009080402986.html |
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