HFTs have used the rule’s prop trading exemption to avoid Finra
The US Securities
Exchange Commission (SEC) has proposed new rules to enhance the
oversight of high frequency traders (HFTs) and boost its
chances of spotting market manipulation.
The regulator voted on Wednesday to amend
rule 15b9-1 of the Securities Exchange Act to require certain
broker-dealers trading with non-exchange venues to become
members of a national securities association.
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