SEC Hearing On HFT, Dark Liquidity And Sponsored Access Next Wednesday Will Achieve Absolutely Nothing
The SEC's highly overpaid bureaucrats will have to wake up early next Wednesday and read all the Goldman Sachs pamphlets on what a bid ask spread is, what predatory algos are, and why HFTs have hijacked the market in order to sound somewhat intelligent at a "Sunshine Act" hearing on high frequency trading, dark liquidity and sponsored access. Being insufferably worthless Wall Street puppets, the hearing will achieve nothing, and will be followed by a Sunset Act hearing in a few years, where a post mortem of all that could have been accomplished, but wasn't, will be eulogized, together with a remembrance of America's once alive capital markets.
Sunshine Act Meeting.
Notice is hereby given, pursuant to the provisions of the Government
in the Sunshine Act, Pub. L. 94-409, that the Securities and Exchange
Commission will hold an Open Meeting on January 13, 2010 at 10:00 a.m.,
in the Auditorium, Room L-002.
The subject matter of the Open Meeting will be:
1: The Commission will consider whether to publish a concept release on
equity market structure. The concept release would invite public
comment on a wide range of issues, including the performance of equity
market structure in recent years, high frequency trading, and
undisplayed, or "dark," liquidity.
The Commission will consider whether to propose a new rule regarding
risk management controls and supervisory procedures to manage
financial, regulatory and other risks for brokers or dealers that
provide market access.
At times, changes in Commission priorities require alterations in the scheduling of meeting items.
For further information and to ascertain what, if any, matters have been added, deleted or postponed, please contact:
The Office of the Secretary at (202) 551-5400.
Elizabeth M. Murphy