asic:update, page-33

Good to see you back here again Hotrock1 - I believe it is Jason Brewer who is representing CCC in Sydney this week at the M&M Conference & next week, elsewhere in Sidenee. Enjoy the free booze & snacks at the Proactive Investors event, and make sure you corner JB to extract as much info as possible out of him. Oh, and please encourage your mega-rich coal trading mates to invest in CCC (that's a joke).

This NYT article is courtesy of 38trader - Post #: 7268460 - from the BigDaddy threads:


I believe the world is getting so jack of the high frequency trading, that things simply have to change. It's not there for the reasons it was initially set up to do any more.

Article well worth reading on it, called "Clamping Down on Rapid Trades in Stock Market":

Here are the starting paragraphs:

Regulators in the United States and overseas are cracking down on computerized high-speed trading that crowds today’s stock exchanges, worried that as it spreads around the globe it is making market swings worse.

The cost of these high-frequency traders, critics say, is the confidence of ordinary investors in the markets, and ultimately their belief in the fairness of the financial system.

“There is something unholy about them,” said Guy P. Wyser-Pratte, a prominent longtime Wall Street trader and investor. “That is what caused this tremendous volatility. They make a fortune whereas the public gets so whipsawed by this trading.”

Regulators are playing catch-up. In the United States and Europe, they have recently fined traders for using computers to gain advantage over slower investors by illegally manipulating prices, and they suspect other market abuse could be going on. Regulators are also weighing new rules for high-speed trading, with an international regulatory body to make recommendations in coming weeks.