Our Response to Duncan Niederauer’s July 4th Op-Ed about Dark Pools in the FT

05

July, 2012

 

Yesterday on the birth of our nation, NYSE’s CEO – Duncan Niederauer, penned an editorial in the Financial Times, titled It’s Time to Bring Dark Pools into the Daylight. He makes these points:

-          Transparency in our markets is shrinking and investors are walking.

-          Dark pools are much less regulated than exchanges.

-          50 Dark Pools in the US handle nearly 40% of daily trading volume.

-          Regulations designed to promote competition have had massive unintended consequences, like a two-tiered market structure; white-hat-wearing Exchanges are one tier – they provide

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