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Live Hearing On Market Structure (Dark Pools, Naked Shorting, HFT) In Progress
The United States Senate Committee on Banking, Housing & Urban Affairs is currently holding an extended hearing on Market Structure Issues, where Senator Kaufman is presenting currently. Link to live webcast can be found here.
The full list of panelists and presenters:
Panel 1
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Honorable Edward Kaufman
United States Senator
Panel 2
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James A. Brigagliano, Esq.
Co-Acting Director of the Division of Trading and Markets
U.S. Securities and Exchange Commission -
Mr. Frank Hatheway
Senior Vice President and Chief Economist
NASDAQ OMX -
William O'Brien, Esq.
Chief Executive Officer
Direct Edge -
Mr. Christopher Nagy
Managing Director of Order Routing Sales & Strategy
Ameritrade -
Mr. Daniel Mathisson
Managing Director and Head of Advanced Execution Services
Credit Suisse -
Mr. Robert C. Gasser
President and Chief Executive Officer
Investment Technology Group -
Mr. Peter Driscoll
Chairman
Security Traders Association -
Mr. Adam C. Sussman
Director of Research
TABB Group
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Besides the Honorable Senator Kaufman, are any of the attendees not in favor of HFT and dark pools?
I know my senator from Colorado is on the committee... and from my prior encounters, I'm pretty sure he doesn't understand any of it.
Idiot.
Hmm..perhaps the admin crew could setup ZH accounts for all 435 reps and 100 senators and email them an invite.
I suppose we could debate whether to use any part of their name in the login, or their state-district (state-senator1,2), or even more fun and come up with pseudonyms.
Pete
Ho's...
http://www.washingtontimes.com/news/2009/oct/28/democratic-donors-reward...
all this guy does is golf. I guess President wasn't enough, now he's chasing down Tiger Woods.
Lighten up, he's just taking Bush's advice on how to be a President.
tj3
yep
BEseeingyoU
Listening to this makes one wonder what the next move may be for financial shenanigans.
Perhaps it would be a program where instead of selling in and out of shares of co's and contracts, one could directly swap using currency denonimations as a measure instead of as a medium. For example, if I want to sell 100 shares of coke and someone else wants to buy 100 shares, but I'm interested in buying 50 shares of dow and they want to sell, instead we swap assets and only mark the excess that exists outside our trades. Instead of seeing 100 shares change hands you may only 4 shares of coke and 1 of dow.
This sort of mechanism would allow for significantly higher profits because of our current tax code. It would also increase opacity which is a real plus too.
If there's nothing wrong with HFT then why is the little guy in a mutual fund having the SEC giving him new frequency trading restrictions starting in December?
It is sickening to hear how some of these guys are parroting for the record 'high frequency trading good-thank you for your expert testimony'
we need to feed Senator Corker and the other privately held federal reserve cartel shills come crackers.
Bring on the revolution.
Chrissy
No one attending from the NYSE?
Are they gonna turn that thing into a restaurant soon? LOL
Thank you for your insight. ZH is now the financial equivalent of CB Radio.
Agreed Ho's.....Whoredom Plus....
Sussman and Gasser were the stars. I was shocked at how dumb Driscoll was. He is the guardian of the buyside??
Does anyone have a link to the replay?
http://tinyurl.com/yj6zazs
click on webcast archive
i thought that the NYSE was going to be condominiums.
Am I mistaken ?
could they stack the deck more in favor of these three horrors.
Panel 2 reads like murderers row. They are by far the emptiest suits in the business today.