Financial Regulatory Forum

U.S. Senator Schumer jumps into dark pool debate before SEC meeting

U.S. Senator Charles Schumer speaks in New York, July 12, 2009. (file Photo) REUTERS/Chip East By Jonathan Spicer
NEW YORK, Oct 20 (Reuters) – U.S. Senator Charles Schumer on Tuesday jumped in to the debate over anonymous trading venues known as dark pools, calling for tough new regulations a day before the U.S. Securities and Exchange Commission meets to consider new rules.  Schumer, among the most vocal of lawmakers pressing for market structure reform, urged in a letter to SEC Chairman Mary Schapiro that the regulator adopt some of the most robust measures now on the table, and called for a new market-wide monitor.

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NYSE: No need to restrict high frequency trades

    WASHINGTON, Oct 13 (Reuters) – The head of the New York Stock Exchange said on Tuesday that it was not necessary to bring more oversight to high frequency trading, a split-second stock trading strategy that has come under regulatory scrutiny. (more…)

NASDAQ backs ban on “flash” orders – U.S. Senate critic Schumer

Nasdaq backs ban on ‘flash’ trading -Schumer
By Rachelle Younglai and Jonathan Spicer
WASHINGTON/NEW YORK, July 28 (Reuters) – The Nasdaq Stock Market supports a ban on so-called “flashes,” order types that it and other stock-trading venues send to a select group of traders fractions of a second before revealing them publicly, Senator Charles Schumer said on Tuesday.

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