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ARTICLE · 18 DECEMBER 2014

Reverse-Flash: SEC And FINRA Looking To Slow High-Speed Traders?

Fox Rothschild LLP
Fox Rothschild LLP
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High-frequency trading is the latest craze hitting the market. Popularized by Michael Lewis’s Flash Boys, high-frequency or high-speed trading involves the use of sophisticated technological tools and computer algorithms to rapidly trade securities.

United StatesCorporate/Commercial Law
Christopher Varano
Christopher Varano
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High-frequency trading is the latest craze hitting the market.  Popularized by Michael Lewis's Flash Boys, high-frequency or high-speed trading involves the use of sophisticated technological tools and computer algorithms to rapidly trade securities.  According to Bloomberg BusinessWeek, high-frequency trading has been "blamed for making stock exchanges less transparent and markets more volatile [and] has disrupted the process of trading stocks that determines the value of public companies."  Yet, I was recently told by counsel for the Securities and Exchange Commission and FINRA (at a 2014 Securities Litigation & Regulatory Update CLE in Philadelphia) that there is "nothing inherently bad" about high-frequency trading.  That said, these agencies are still looking for ways to safeguard investors.

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