Sorry Chuck Schumer. Contrary to your claim that an SEC ban on “Flash” trading was imminent (as promised to you by Mary Schapiro) that doesn’t sound to be the case.
Schapiro just appeared on CNBC talking to Erin Burnett, and though she said it was something they were looking into at the SEC, she also acknowledged a liquidity benefit. And she certainly didn’t imply that a “ban” was right around the corner.
She also put the purveyors of the leveraged ETFs on notice, and frankly, we think this is more reasonable — not necessarily because they should be banned, but because they’re so confusing to end consumers, and probably ought to come with a few more warning labels.
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