SEC moves to eliminate flash orders

08/5/2009 | NYTimes.com · Bloomberg

Securities and Exchange Commission Chairwoman Mary Schapiro said she would support a ban on flash trading as part of a broader effort to tighten regulation of dark pools. She said she had directed the agency's staff to propose "an approach that can be quickly implemented to eliminate the inequity that results from flash orders." Before becoming final, any SEC rule must be published, public comments must be invited and approval must be received from the full commission.

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NYTimes.com · Bloomberg

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