US SEC to consider rules for dark pools next Wednesday

October 14, 2009

WASHINGTON, Oct 14 (Reuters) – U.S. securities regulators will consider next Wednesday proposals to shed more light on dark pools, or venues where stock trades are hidden from public view, a notice on the Securities and Exchange Commission’s website said.

SEC Chairman Mary Schapiro along with several lawmakers have raised concerns about the potential inequity in the markets.

Schapiro has said some pools were not dark to all market participants but rather transmitted electronic messages to select individuals that could convey valuable information about their available liquidity.

The SEC will hold an open meeting Oct. 21 to consider amending the display obligations of alternative trading systems among other proposals.
(Reporting by Rachelle Younglai)
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