I suspect the SEC, FINRA, and CFTC
are big fans of Groucho Marx, or at least his observations on fair
dealing. How else could they justify turning a blind eye to a global
media powerhouse such as Reuters selling early access to market-moving
information? How could these authorities not condemn a practice like high-frequency trading (HFT), which causes significant market disruptions on a daily basis and destroys investor confidence?
Why would agencies that are charged with oversight of the most robust
capital markets in the world choose to disregard their fiduciary duty?
My guess is, as usual, it all comes back to money.But before I get too far ahead of myself, let me briefly explain what HFT is and why someone getting an early peek at information makes a complete joke of fair markets.
http://finance.yahoo.com/blogs/the-exchange/high-frequency-trading-making-joke-markets-124446937.html
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