{"id":1439,"date":"2014-04-29T23:35:02","date_gmt":"2014-04-29T23:35:02","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2014\/04\/sec_chair_white_says_highfrequ"},"modified":"2022-03-11T09:18:54","modified_gmt":"2022-03-11T15:18:54","slug":"sec-chair-white-says-highfrequ","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/sec-chair-white-says-highfrequ\/","title":{"rendered":"SEC Chair White Says High-Frequency Trading Markets Not Rigged"},"content":{"rendered":"

\t\t\t\tSpeaking before a US House of Representatives panel, Securities and Exchange Commission Chair Mary Jo White addressed allegations about the high-frequency trading <\/a>markets saying they “are not rigged.” Her statement was in response to allegations made in Michael Lewis’ book “Flash Boys: A Wall Street Revolt,” which questioned the role of this type of trading and whether investors end up at a disadvantage because of it.<\/p>\n

High-speed trading is computer driven and impacts over half of the volume of the stock market. Firms that engage in high frequency trading subscribe to data feeds that are superfast and can see the trades before other investors can, allowing them to avail of the information first. Lewis contends that high-speed traders are doing a kind of front-running that lets firms quickly determine whether there is investor desire to purchase a stock. He says this lets buy the stock first and then sell it back to the investor at a slightly higher cost. <\/p>\n

Since the book’s release, the US Attorney General, the Federal Bureau of Investigation, the SEC and prosecutors in New York have all said that they are looking into the practices of firms that engage in high-speed trading. The FBI wants to see whether high-speed firms are in violations of prohibitions tied to insider trading, while NY Attorney General Erich Schneiderman is probing links between high-speed firms and the exchanges to see whether the markets are “catering” to these traders. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Speaking before a US House of Representatives panel, Securities and Exchange Commission Chair Mary Jo White addressed allegations about the high-frequency trading markets saying they “are not rigged.” Her statement was in response to allegations made in Michael Lewis’ book “Flash Boys: A Wall Street Revolt,” which questioned the role of this type of trading […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3801],"tags":[2598],"class_list":["post-1439","post","type-post","status-publish","format-standard","hentry","category-sec","tag-high-frequency-trading"],"yoast_head":"\nSEC Chair White Says High-Frequency Trading Markets Not Rigged — Investor Lawyers Blog — April 29, 2014<\/title>\n<meta name=\"description\" content=\"Speaking before a US House of Representatives panel, Securities and Exchange 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