Tag Archives: Proctor & Gamble

U.S. Securities and Exchange Commission Bans “Naked Access” to Traders

In an attempt to prevent an electronic trading error from happening in the future, the U.S. Securities and Exchange Commission finally voted in favor of banning “naked access” to traders. Why this is relevant to high-frequency traders will be explained … Continue reading

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Why U.S. asks to Seal Courtroom to Guard Goldman Sachs’ Secrets?

Prosecutors asked a federal judge to seal the courtroom for part of the upcoming criminal trial of a former Goldman Sachs Group Inc computer programmer, an effort to protect the secrecy of the bank’s high-frequency trading platform. Why is this … Continue reading

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Chairman Schapiro: “The events of last week are unacceptable”

In the written testimony submitted ahead of today’s congressional hearings, Chairman Schapiro admitted that “the technologies used for market oversight and surveillance have not kept pace with the technology and trading patterns of the rapidly evolving and expanding securities markets.” She concludes: “The events of last week are unacceptable. The Commission is considering a number of proposals that will address key issues raised on May 6 and we will move expeditiously to address all issues we determine caused or contributed to those events.” Continue reading

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