SEC's Berman: The Data Disputes HFT Narrative

Gregg Berman, associate director at the SEC office of analytics and research

Berman's primary argument is that increased complexity in market structure, including HFT, comes down to investors' desires—to trade on a fair price and execute predictably without undue cost—rather than a few electronic market-makers’ need to constantly outdo competitors, or “rig” markets, using technology. And, likening today's markets to his smartphone, he pointed out that complexity is neither bad nor innately superfluous.

"My mobile phone is ridiculously complex, whereas my home phone I can

To continue reading...

You need to sign in to use this feature. If you don’t have a WatersTechnology account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: