Exchange group applied for SEC approval for the rule in July last year
US watchdog the Securities and Exchange
Commission (SEC) has approved exchange group Bats Global
Markets’ client suspension rule, in a move that
will allow the group to take swifter action to prohibit
manipulative behaviour across its exchanges.
Bats chief regulatory officer and
executive vice president Tami Schademann said on
Tuesday: "As we’ve noted
previously, instances of spoofing and layering are limited in
the US markets, but we believe regulators should have the
proper tools to stop such disruptive quoting and trading
behavior as quickly as possible for the benefit of all
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