Flash trading under consideration at SEC

Securities and Exchange Commission Chairwoman Mary Schapiro released a statement noting that she instructed SEC staff to explore "an approach that can be quickly implemented to eliminate the inequity that results from flash orders." The statement further says, "Under the rule-making process, such a proposal ... would need to be approved by the commission and be open to public comment." The statement comes in reaction to Sen. Charles Schumer, who said Schapiro had told him that a ban on flash trading is imminent. In previous statements, Schapiro or other SEC staff indicated their desire to look closely at dark pools and flash quotes to determine whether regulations are needed.

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