Reg NMS in the spotlight amid HFT criticism

Regulation National Market System (Reg NMS), that gave traders insight into other investors’ trading strategies, was originally intended to correct problems raised in the 1987 crash when brokers refused to answer phones to avoid placing orders to sell. When the rule passed in a three to two vote in 2005, the dissenting SEC commisioners expressed concerns that it could create anti-competitive behaviour. >>> Read the full article @ IFLR

The Effect of Regulation NMS on High Frequency Trading

Naim Bodek: “I am going to explain how HFT in U.S. equities and Regulation NMS are intimately intertwined. I am going to explain some of the properties of HFT-oriented special order types that give HFTs an advantage over institutions.” >>> Read the full article @ Trade Tech FX