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Microcap & Penny Stocks : Rat dog micro-cap picks...
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To: Rangle who wrote (42480)4/30/2010 7:31:46 AM
From: Bucky Katt  Read Replies (2) of 48461
 
Modern day Willie?>

High-frequency trading faces a European Union clampdown, as regulators investigate whether traders could use the practice to manipulate financial markets.

"You can't rob a bank on charm and personality"
Willie Sutton

The European Commission, the EU’s executive arm, said it’s summoning hedge funds and banks for fact-finding talks on the practice, as it considers stricter rules on market abuse due before the end of the year.

“We’re looking into high-frequency trading as part of the review of the Market Abuse Directive,” Chantal Hughes, a spokeswoman for Financial Services Commissioner Michel Barnier, said in an e-mail. “We want to make sure that the review captures technological developments.”

U.S. lawmakers have questioned whether the practice is benefiting Wall Street at the expense of individual investors. The Securities and Exchange Commission sought input from securities professionals on strategies used by high-frequency traders in January. EU officials met financial companies the same month to gather information.

High-frequency trading entails hedge funds and other firms using powerful computers to execute orders in milliseconds to profit from tiny discrepancies in the prices of shares.

The current Market Abuse Directive, which came into force in 2005, sets common rules across the 27-nation EU. The law requires firms to report suspected abusive trading to regulators.
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