Friday, August 7, 2009
BATS, Nasdaq to stop offering flash orders Sept. 1
Nasdaq OMX and BATS Exchange both announced that as of Sept. 1, they will no longer offer flash-trading orders, which give some traders an early glimpse at orders. "We respectfully call on other markets offering similar functionality to make the same decision," Nasdaq OMX CEO Bob Greifeld said in a statement. The Securities and Exchange Commission is considering prohibiting the practice.
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