The Securities and Exchange Commission (SEC) is moving toward banning a trading practice, called as “flash orders”, that gives some brokerages a split-second advantage in buying or selling stocks.
Flash orders give certain members of exchanges including Nasdaq, Direct Edge and BATS the ability to buy and sell order information for milliseconds before that information is made public. High-speed computer software can take advantage of that brief period to allow those members to get better prices and profits.
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