“U.S. prosecutors have joined regulators’ investigation into whether some high-speed traders are manipulating markets by posting and immediately canceling waves of rapid-fire orders, two officials said.
Justice Department investigators are “working closely” with the Securities and Exchange Commission to review practices “that are potentially manipulative, like quote-stuffing,” Marc Berger, chief of the Securities and Commodities Task Force at the U.S. Attorney’s Office for the Southern District of New York, said today at an event in New York.”
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more like “lets milk some lobbyists”
instead of spending millions to figure this out, here’s the inevitable conclusion:
“…after conducting a thorough investigation, we find no evidence of market manipulation.”
I say we let them trade however they want to, but they have to do it over a dial-up modem.