Flash Trading Reversal by SEC May Hit Direct Edge, Boost NYSE - Bloomberg.com: "Aug. 5 (Bloomberg) -- The U.S. Securities and Exchange Commission’s move to ban so-called flash orders would help NYSE Euronext take back market share of U.S. stock trading at the expense of three-year-old rival Direct Edge Holdings LLC.
Senator Charles Schumer said yesterday the SEC will seek to stop the practice in which some brokers get a split-second advantage in viewing requests to buy and sell stock, after discussing the issue with Chairman Mary Schapiro. NYSE Euronext, the only one of the top four U.S. exchanges that doesn’t use flash orders, has seen its portion of the nation’s share trading slip to 30.3 percent in the second quarter from 35.5 percent a year earlier, while Direct Edge’s"
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Tuesday, August 4, 2009
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