This Week
  • Renovation work begins this fall on the Sibley Building. Click on the image for a slideshow.

  • Eber Bros. is in a legal fight with the Pension Benefit Guaranty Corp.

  • Tapping into a business model mostly used in larger cities has led to growth at Inde.

  • Suzanne Nasipak-Chapman is Rochester market executive for First Niagara Financial Group.

  • New hotels add to Rochester's hospitality scene, but their impact is not yet certain.

  • The new Golisano Children's Hospital is dedicated.

Schneiderman says high-frequency traders undermine confidence

Rochester Business Journal
September 25, 2013

High-frequency trading, and early access to market-moving information and analyst reports threatens and undermines confidence in the financial markets, state Attorney General Eric Schneiderman says.

“When blinding speed is coupled with early access to data, it gives small groups of traders the power to manipulate market movements in their own favor before anyone else knows what’s happening,” Schneiderman said during an appearance at the annual Bloomberg Markets 50 Summit on Tuesday.

The newest form of insider trading undermines the markets be setting up a small minority of traders to receive enormous profits at the expense of the rest of the market, he said.

The attorney general’s office has established a hotline at 1-800-771-7755 for financial industry insiders to report improper or illegal conduct.

(c) 2013 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.


What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment

 
Username:
Password:

Not registered? Sign up now!
 

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google