High Frequency Trading

News & Analysis as of

Are High Frequency Traders Playing Fast and Loose With the Rules?

When high frequency trading (HFT) first crept into the public consciousness, it related to primarily to the question of whether rapid, computer driven trading posed risks to the safety and stability of the trading markets. ...more

This Week In Securities Litigation (Week ending April 17, 2014)

High speed trading continued to be a central focus in this shortened week with the markets closed on Friday. The New York Attorney General has reportedly issued subpoenas to three firms for information regarding their...more

High-Frequency Trading: Further Thoughts on the “Flash Boys” Debate

The firestorm sparked by Michael Lewis’ new book on high-frequency trading, Flash Boys, raged on this week, with both opponents and supporters of high-frequency trading entering the fray. In a heated debate on CNBC’s Power...more

High-Frequency Trading: Whistleblower Aids SEC And FBI Investigations

The buzz on Wall Street this week has been all about high-frequency trading and Michael Lewis’ new book on the topic, Flash Boys. As Lewis explains, high-frequency trading typically works by exploiting a powerful combination...more

A Must Read: FINRA’s 2014 Exam Priorities

FINRA did not wait for any dust (or snow) to settle on the New Year before alerting the brokerage industry and the public about its regulatory and examination priorities for 2014. This year’s letter, issued earlier than ever...more

ASIC puts insider trading under the microscope

The Australian Securities and Investments Commission (ASIC) has announced that its new $43.7 million next generation market surveillance system has become operational. The system, known as Market Analysis Intelligence (MAI),...more

"CFTC Publishes Sweeping Concept Release Asking Questions About Additional Regulation of Automated Trading Strategies and...

On September 12, 2013, the Commodity Futures Trading Commission (CFTC) published a concept release (Concept Release or Release) requesting information about current market practices relating to the use of automated trading...more

Corporate and Financial Weekly Digest - August 16, 2013

In this issue: - SEC Issues Risk Alert on Options Trading Used to Evade Short-Sale Requirements - SEC Order Temporarily Exempting Certain Broker Dealers and Certain Transactions from the Recordkeeping and...more

High Frequency Trader “Spoofs” And “Layers” His Way To Penalties From U.S And British Regulators

On July 22, 2013, regulators from the United States Commodity Futures Trading Commission (CFTC) and the British Financial Conduct Authority (FCA) fined high frequency trader Michael Coscia (and his firm Panther Energy...more

Private Fund Update - July 29, 2013

In this issue: - Last week - The President - The 113th Congress - Securities and Exchange Commission - Commodity Futures Trading Commission - Private Equity Growth Capital Council...more

FINRA Announces Targeted Examination Letter Regarding High-Frequency Trading

The Financial Industry Regulatory Authority (FINRA) announced the issuance of a targeted examination letter in connection with high-frequency trading...more

Corporate and Financial Weekly Digest - July 19, 2013

In this issue: - SEC Extends Interim Final Temporary Rule for Broker-Dealers Engaging in a Retail Forex Business - FINRA Announces Targeted Examination Letter Regarding High-Frequency Trading - CFTC...more

Financial Services Quarterly Report - Second Quarter 2013

In This Issue: - UK: New Regulators; New Powers - So You Want to be a U.S. Mutual Fund Manager - The New German Rules on High Frequency Trading - Marketing and Distributing Your Fund in the Middle East:...more

Financial Services Quarterly Report - Second Quarter 2013: The New German Rules on High Frequency Trading

The German Federal Parliament adopted a bill on February 28, 2013, setting forth detailed rules and provisions dealing with so-called “high frequency trading” (the “HFT Rules”)....more

BaFin Updates HFT Legislation Guidance

BaFin, the German financial regulator, updated guidance on its website in clarification of several issues concerning the Hochfrequenzhandelsgesetz (High Frequency Trading Act) which came into force on May 15....more

Raj Mahajan, Allston Trading CEO, Talks HFT and the Business of Prop Trading [Video]

Raj Mahajan took the reins at Allston Trading as CEO in September 2012 and has spent a good deal of his time looking at the issue of high frequency trading (HFT). Allston has been one of the proprietary trading firms who has...more

Financial Services Legislative And Regulatory Update -- March 11‚ 2013

In This Issue: Leading the Past Week; Legislative Branch; Executive Branch; and Upcoming Hearings. Excerpt from Leading the Past Week - As the first full week of the Federal government’s sequestration comes to a...more

Germany Enacts High-Frequency Trading Act

Act regulates high-frequency trading firms and certain trading activities to address concerns about their potential impact on market stability. On 28 February, the German Parliament (Bundestag) approved the "Act for...more

"German Bundestag Approves Law Regulating High Frequency Trading"

The lower chamber of German parliament (Bundestag) approved last week a draft act regulating high frequency trading in Germany. The chamber of the federal states (Bundesrat) is scheduled to vote on the act on March 22. If...more

Germany’s Lower House Approves High Frequency Trading Bill

On February 28, the Bundestag (Germany’s lower house of parliament) approved a bill aimed to prevent the abuse and associated dangers of high frequency trading. The bill requires that high frequency traders obtain...more

Orrick's Financial Industry Week In Review - March 4, 2013

In This Issue: *Financial Industry Developments - Amendments to Fed and OCC Foreclosure Consent Orders - Fed Proposed Rule on Systemically Important Financial Market Utilities - Rating Agency...more

FINRA Offers Regulatory Road Map for 2013

On January 11, 2013, the Financial Industry Regulatory Authority (FINRA) issued its annual Regulatory and Examination Priorities Letter (Priorities Letter) to member firms, which highlights its primary areas of focus for the...more

FINRA Issues 2013 Regulatory and Examination Priorities Letter

Overview: On January 11, 2013, the Financial Industry Regulated Authority (FINRA) issued its 2013 Annual Regulatory and Examination Priorities Letter (Priorities Letter). This letter is issued annually to highlight...more

"SEC Enforcement in the Second Term of the Obama Administration"

As the second term of the Obama administration begins, the SEC is experiencing a profound leadership transition, with the departures of agency Chair Mary Schapiro; Director of Enforcement Robert Khuzami; its general counsel;...more

HFT Rules: Rules for the Algo Highway [Video]

Watch the Restoring Customer Confidence video series: http://jlne.ws/TJeVtG About this solution: Customer confidence has been hit by a number of different events over the past several years and high frequency trading...more

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