High-Speed Stock Transactions and Insider Trading
Witnesses testified on stock market conflicts of interest in high-frequency trading practices, and their impact on consumer confidence. Comm… read more
Witnesses testified on stock market conflicts of interest in high-frequency trading practices, and their impact on consumer confidence. Committee Chair Carl Levin (D-MI) in his opening statement outlined high-speed trading and addressed the conflicts of interest and negative effects on investors. The witnesses addressed such issues as “maker-taker” pricing, trade routing to high-fee venues, and co-location venue practices. Bradley Katzuyama, the chief executive officer of an alternative stock market exchange, in his testimony said that U.S. financial markets were “rigged,” while the president of the New York Stock Exchange and other major brokerage firms defended Wall Street practices. close
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