Back in June of 2014, then CFTC Chairman Tim Massad announced the hiring of Aitan Goelman as the CFTC’s a new enforcement director.  Mr. Goelman was previously a US Attorney in the Southern District of New York and appeared to be a great choice since he would be tough on enforcement.  He made this statement when he was hires: “I am pleased to return to public service and excited to join the CFTC at this important time when vigorous enforcement is more vital than ever.  It is an honor to be able to play a part in helping the Commission fulfill its (more…)

  Yesterday we wrote about how the HFT community has begun to lobby to eliminate the Order Protection Rule.   It’s no surprise to us that they are trying to change the rules now since their cash machine, which unofficially began in 2007 (with the implementation of Reg NMS), seems to be grinding to a halt. After squeezing every last arbitrage (latency, regulatory, rebate) penny out of Reg NMS for the past 10 years, the HFT community now wants new rules so they can create new arbitrage opportunities. So why now?  Why do they all of the sudden care about the ten year (more…)