The settlement talks follow a U.S. Securities and Exchange Commission inquiry begun more than two years ago into key facets of modern markets, including order types -- or instructions for handling transactions that traders can send to exchanges.
After the book, our stock market, IEX Group Inc., became a topic of discussion -- some positive, some negative, some true and some false. Fair enough. If you're in the spotlight and doing something different, you should take the heat along with the light.
Author Michael Lewis’s argument that U.S. stock trading is rigged reflects a misunderstanding of how the market operates and its history, said Bill O’Brien, the president of exchange operator Bats Global Markets Inc.
Trading is now effectively non-stop, with transactions measured in millionths of a second. Budish, an associate professor of economics at the Booth School of Business, proposes to instead segment trading into thousands of auctions throughout the day.
Bats Global Markets Inc.’s merger with Direct Edge Holdings LLC will put a broker-owned stock exchange operator in the top ranks on Wall Street for the first time since NYSE Euronext and Nasdaq OMX Group Inc. went public.