More than two years ago, the Federal Reserve Bank of Chicago was pushing the U.S. Securities and Exchange Commission to get serious about the dangers of super fast computer-driven trading. Only now is the SEC getting around to taking a closer look at some of those issues.
Critics of the SEC say the delay is part of a pattern of inaction in dealing with the fallout from high frequency trading and shows that the regulator doesn't yet fully appreciate how fears of machine-driven market meltdowns are driving investors away from U.S. markets.
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