NYSE: Electronic Trading on the Front Lines
SEC asks if NYSE's electronic-trading push played role in sell-offThe Securities and Exchange Commission wants to know if the NYSE's push into electronic trading may have played a role in Tuesday's market plunge. In November, the NYSE said it would cut costs by closing one of its five trading rooms. Now regulators are asking if that made it tougher for the NYSE to handle Tuesday's trading surge.
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Computer problem may have exacerbated massive fall on Wall Street
In the midst of what was already a rough day on Wall Street, the Dow Jones industrial average suddenly plummeted 200 points within seconds -- one of the fastest falls in the history of the market. Now it appears that the decline may have been the result of a glitch in a Dow Jones computer system.
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Rosenblatt says automation may make NYSE less effective
Richard Rosenblatt, a member of the NYSE since 1979 and chairman of Rosenblatt Securities, issued a warning about the automation of the exchange. "The benchmark is whether automation makes the process more efficient but I suspect NYSE and the Securities and Exchange Commission have gone too far with the assumption that transparency equals liquidity," Rosenblatt said.
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NYSE, NASDAQ, global markets, equity markets, electronic trading, automation, technology
Labels: automation, electronic trading, equity markets, global markets, NASDAQ, NYSE, technology
posted by Victor Lloyd Smith @ 11:37 AM
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