From the WSJ: Conflict erupted among some of Wall Street's
heaviest hitters over a proposed definition of high-frequency trading, showing
rifts that divide big investment firms from the high-octane companies that
specialize in the electronic trading.
The dispute, at a government-sponsored hearing Wednesday,
underlines the bitter debate over the role played by high-frequency trading in
modern-day markets. It also shows the challenges regulators face in trying to
police a rapidly evolving securities industry. Critics have blamed complex
trading strategies and computer glitches for driving small investors out of the
market.
Regulators and industry officials gathered to discuss the
proposed 58-word definition of high-frequency ...
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