Schumer Urges SEC To Look Into Flash Trading

Law360, New York (July 27, 2009, 4:43 PM EDT) -- Sen. Charles Schumer, D-N.Y., is reportedly pushing the U.S. Securities and Exchange Commission to investigate flash trading, through which certain stock exchanges can give traders a split-second advantage by offering a brief look at trading orders before they are made available to the public.

Schumer on Friday urged SEC Chairwoman Mary L. Schapiro to crack down on certain companies' use of high-speed computers to give investors a peek at buy- and sell-order information between 500 milliseconds and 3 full seconds before the general public sees it,...
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