Tuesday, 18 March 2014

New York Attorney General calls out high-speed Wall Street traders for unfair advantage

Today, New York State Attorney General Eric Schneiderman spoke out against anti-competitive practices by high-speed trading firms, which he said use co-location to gain early access to vital market-moving data. According to a report in The Wall Street Journal, Schneiderman described co-location and other practices as "valuable advantages [that] give high-frequency traders a leg up on the rest of the market." Previous reports indicate the Attorney General's office is actively probing stock exchanges for more information regarding the practice, although it's unclear if the investigation will result in any charges.
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