Wall Street’s Top Cop Contracts With Red Bank’s Tradeworx for High-Frequency Trader Data

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(Bloomberg News, July 20) – The U.S. Securities and Exchange Commission took a step yesterday toward improving its oversight of equity and options markets, contracting for a system that collects quote and trade data sold mainly to private users.

Regulators will be able to tap into real-time feeds of orders, quotes and transactions that are generated by exchange companies such as NYSE Euronext and CBOE Holdings Inc. and were, until now, used primarily by banks and automated trading firms. Tradeworx Inc., a high-frequency firm and technology vendor in Red Bank, is delivering a platform to compile the data under an SEC contract.

“Historically we have not had the most robust systems to do the analysis one would want to do with data,” Gregg Berman, senior adviser to the director of the SEC’s division of trading and markets, said in a phone interview. “In one fell swoop we have become one of the most advanced institutions in terms of our technical and analytical capabilities.”

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