The New York Post reports that as part of his effort to rein in the practice, the state’s top cop called for tougher regulations and market reforms intended to eliminate what he called the unfair advantages provided traders who use this method.
'High-frequency trading did not even really exist 10 years ago, but in some respects it’s coming to dominate our markets', the lawman said in a speech at the New York Law School Centre for Business and Financial Law. 'And, unfortunately, our markets and market institutions have started to cater to these traders'.
High-frequency trading (HFT) involves fully automated trading using rapid movements in and out of stocks — often for less than a second.
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