SEC to ban flash trading
The US Securities and Exchange Commission has voted to ban flash trading, in which stock exchanges allow their larger clients to view orders before they are published to the rest of the market.
On September 17, the SEC unanimously passed an amendment to Rule 602 of Regulation NMS, closing a loophole that allowed exchanges to offer flash trading to their members.
SEC chairman Mary Schapiro listed the problems created by flash trading yesterday. "Flash orders may create a two-tiered market by
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