Bart Chilton / Cracking down on millisecond markets - Press of Atlantic City: Commentary

Bart Chilton / Cracking down on millisecond markets

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Posted: Thursday, July 25, 2013 12:01 am

On Monday, regulators settled charges in a landmark case involving one of the new breed of super-fast traders in financial markets. These types of traders are known as "cheetahs" because they are the speediest - and sometimes the wildest - cats in the markets. In the case, regulators in the U.S. and U.K. levied hefty fines on a company called (aptly) "Panther," as well as against the firm's owner. The case was the first effort by the Commodity Futures Trading Commission to flex its muscles using relatively new authority to prosecute "spoofing" - an illegal market practice involving placing trades you don't intend to execute, just to move the market in a favorable position.

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