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,...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.