We have known for years that HFT lobbyists have been all over Washington DC trying to protect their industry. But thanks to a new report just issued by the Citizens For Responsibility And Ethics In Washington (CREW), we now know just how much money that they have spent. The report states that since 2008 high frequency trading firms spent over $10 million lobbying Congress, the SEC and the CFTC. In addition, HFT’s donated over $16 million to federal candidates, PACs and super Pacs during the…
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It seems that at least once a week we are writing about some shenanigans at the stock exchanges. In the past, we have highlighted conflicts of interests at the exchanges including hidden order leakage, high speed data dissemination to select clients first and mega tier rebates for only the biggest HFT’s.
We have long targeted the exchanges/self-regulatory organizations (SRO’s) as the center piece of our broken market. In fact, we have a chapter in our book, Broken Markets , titled…
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