The SEC Takes on the Robots

Friday, June 11, 2010 , , , 0 Comments

Again, it's good to have a "just in case" or twenty readily available, right?

Business Week:

The U.S. Securities and Exchange Commission’s plan to impose halts on some stocks that swing more than 10 percent starting today may be followed by more measures to slow down trading.

The circuit-breaker test, a response to the May 6 plunge that wiped out $862 million of share value in 20 minutes, will begin as a pilot covering five stocks before expanding next week. SEC Chairman Mary Schapiro said yesterday the agency is considering regulating the speed of stock orders as part of a broader effort to rein in electronic markets.

Call me crazy but aren't we trying to seduce money into our exchanges and not scare the pants off of it? Note to the SEC: This sort of shit scares the money. You've been warned.

Jr Deputy Accountant

Some say he’s half man half fish, others say he’s more of a seventy/thirty split. Either way he’s a fishy bastard.