CME's Donohue says fragmentation likely caused "flash crash"

06/8/2010 | Reuters

CME Group CEO Craig Donohue said the May 6 market plunge likely was caused by stock market fragmentation rather than high-speed trading. "It has very little or nothing to do with high-frequency trading and very much to do with cash-equities fragmentation," Donohue said. He added that splitting the share market into dozens of venues resulted in a "complete total lack of regulatory oversight."

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