The SEC on Thursday proposed banning flash orders after lawmakers said the practice may give hedge funds an advantage over other investors, reports Bloomberg. SEC commissioners unanimously voted to seek public comment on a rule barring exchanges and trading platforms from giving clients access to information about stock orders a fraction of a second before the market. The proposal requires a second vote at a later public meeting to become binding.

This entry was posted by Gwen Robinson on Friday, September 18th, 2009 at 4:48 and is filed under Capital markets, Hedge funds. Tagged with sec. Edit this entry.