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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