New York Times (December 23)
2012/ 12/ 25 by jd in Global News
The proposed acquisitions of NYSE Euronext by IntercontinentalExchange (ICE) and Knight Capital Group by Getco both “reflect the demise of traditional stock-exchange trading. The equities market has been eclipsed by the global market in derivatives, and human traders have been increasingly replaced by computers programmed to profit from split-second price anomalies.” Regulators have not kept pace with this change. “The mergers should remain on the drawing board unless and until regulators can reassure the public that the newly created companies will operate not only for private gain, but in the public interest as well.”
Tags: Derivatives, Equities, Getco, High-speed trading, Ice, Knight Capital, Mergers, NYSE Euronext, Regulation
