SEC Probes Cancelled Trades in Flash Crash: Report
Thursday, September 2nd, 2010
U.S. securities controller is hunting into a Wall Street trading training in which unco super drawing of orders to acquire or delude stocks are settled in a cypher of a second, exclusive to be canceled nearly immediately, the Wall Street Journal reportable on Thursday.
The Securities and Exchange Commission (SEC) is analyzing whether the trading training — famous as “quote stuffing” – is placing whatever investors at a separate by distorting have prices, the Journal said citing grouping old with the matter.
SEC is also scrutinizing whether excerpt mixture played some role in the May 6 “flash crash,” when U.S. have markets suffered a achievement start within minutes.
The controller is also inquiring whether a training titled as “sub-penny pricing,” is utilised to cook the ..read more