Chicago Fed's Evans backs scrutiny of high-frequency firms
from The Wall Street Journal
Federal Reserve Bank of Chicago President Charles Evans said federal regulators should proceed with plans to impose stricter rules on high-speed computer trading. Mr. Evans, in a letter to the Commodity Futures Trading Commission, embraced the CFTC’s push to develop rules aimed at taming the practice of computer trading, which has led to market disruptions such as August’s failure at Nasdaq OMX Group Inc. and the 2010 “flash crash” which saw the Dow Jones Industrial Average collapse more than 1,000 points before rebounding.
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