Wednesday, 6 May 2015
Last updated 9 hours ago
Apr 2 2014 | 10:54am ET
U.S. regulators have high-frequency trading in their sights—plural.
The Federal Bureau of Investigation, Securities and Exchange Commission and Commodity Futures Trading Commission are all investigating the practice, which is employed by a number of hedge funds. Indeed, SEC Chairman Mary Jo White said yesterday that her agency has “a number” of ongoing HFT investigations that have been going on for “quite some time.”
“We’re very much focused on any abuses in that space,” she told a House of Representatives subcommittee.
The SEC and CFTC are investigating ties between high-speed traders and exchanges, which often allow such traders to co-locate their servers at exchange sites, shaving milliseconds from the time it takes information to reach their computers in exchange for a fee. The FBI is looking into whether any HFT practices violate insider-trading laws.
The increased scrutiny on HFT comes in the wake of author Michael Lewis’ new book on the subject. Lewis argues that the practice has rigged U.S. stock markets and should be barred.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…