WASHINGTON, Sept 17 (Reuters) - U.S. securities regulators on Thursday proposed a ban on flash orders that stock exchanges send to a select group of traders fractions of a second before revealing them publicly.
The Securities and Exchange Commission is seeking to curb a practice criticized for giving an unfair advantage to some market participants who have lightning-fast computer trading software.
The proposed ban on flash orders is part of a broader effort by the SEC to crack down on obscure corners of the U.S. stock market.
(Reporting by Karey Wutkowski; Editing by Tim Dobbyn) Keywords: SEC/FLASHTRADING (Email:karey.wutkowski@thomsonreuters.com +1 202 898 8374) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The Securities and Exchange Commission is seeking to curb a practice criticized for giving an unfair advantage to some market participants who have lightning-fast computer trading software.
The proposed ban on flash orders is part of a broader effort by the SEC to crack down on obscure corners of the U.S. stock market.
(Reporting by Karey Wutkowski; Editing by Tim Dobbyn) Keywords: SEC/FLASHTRADING (Email:karey.wutkowski@thomsonreuters.com +1 202 898 8374) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
© 2009 AFX News
