SEC takes first step toward outlawing flash trading

09/18/2009 | Bloomberg

Responding to lawmakers' concerns, the U.S. Securities and Exchange Commission proposed a rule banning flash trading and invited public comment on the proposal. If adopted, the rule will prohibit stock exchanges and other trading platforms from providing clients stock-order data before they are released to the entire market. "The SEC has done what we asked for," said Sen. Charles Schumer, D-N.Y.

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