SEC to Ban Flash Trades of U.S. Stocks:
The U.S. Securities and Exchange Commission will seek to ban flash trades that give some brokerages an advance look at orders, Senator Charles Schumer said, citing a conversation with SEC Chairman Mary Shapiro.
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The proposal may be a sign regulators are moving to stricter oversight of so-called high-frequency trading, in which brokerages using advanced computers execute thousands of transactions in a second. Those strategies may account for 70 percent of trading volume.
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While flash orders make up a small fraction of high-speed transactions, they have drawn the most criticism from investors and traders.
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