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Flash Trading Halt Backed for Nasdaq, Bats as SEC Proposes Ban

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SEC commissioners unanimously voted to seek public comment on a rule barring exchanges and trading platforms from giving clients access to information about share orders a fraction of a second before the market, says Bloomberg. High-frequency trading may account for 70 percent of share volume in the U.S., according to Patrick O’Shaughnessy, an analyst at Raymond James & Associates. James Brigagliano, acting co-head of the SEC division that oversees stock exchanges, said the agency is examining other topics related to “market structure,” including high-frequency trading, and may propose additional rules.
SOURCE:   Bloomberg