A Flash in the Pan?

OPINION

In late July, US Senator Charles Schumer wrote to Mary Schapiro, chairwoman of the US Securities and Exchange Commission (SEC), requesting the SEC prohibit flash order types because they "allow certain members of these exchanges to obtain access to order flow information before the information is made available to the public, allowing those members to use rapid trading programs to trade ahead of those orders and profit from advanced know-ledge of buying and selling activity."

The senator's letter

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