20°c A few clouds
7°c Sunny
The Canadian Press - ONLINE EDITION
SEC proposes tighter oversight of computer trading in response to technical failures
WASHINGTON - U.S. stock exchanges could be subject to tighter oversight of automated trading under a federal proposal that advanced Thursday.
The Securities and Exchange Commission voted 4-0 to seek comment on rules that would require routine testing of trading systems. The exchanges would also be required to notify the SEC about problems, including systems comprised by hacking. Any problems would have to be quickly corrected.
The proposal follows several cases where technical glitches disrupted trading. Stock trading now relies heavily on computer systems that exploit split-penny price differences. Stocks can be traded in fractions of a second, often by automated programs.
The rules would replace a voluntary program that most U.S. exchanges participate in. The public has 60 days to comment on the rules, after which the SEC can adopt them.
More Business
- Back to Top
- Return to Business
Poll
Most Popular Business
- New owner for lumber stores
- Housing slowdown to worsen, cost 150,000 jobs, says mortgage group
- New downtown tower could be 42 storeys tall: developers
- Creative industries can fuel a city's economic engine
- Emerging economies seen as key
- Pollard Banknote signs ticket deal with Western Canada Lottery Corp.
- Microsoft reveals Xbox One as all-in-1 entertainment console, last of 3 major systems unveiled
- Temple Hotels buys hotel in Sherwood Park, Alta., for $15.15 million
- Developers to unveil plans for bold downtown tower
- Manitoba Movers
- Mounties say crooks passing fake polymer bank notes in British Columbia
- Holiday pump jump debated
- 2 men arrested in killing of Las Vegas teen who refused to give up his iPad
- New owner for lumber stores
- Microsoft reveals Xbox One as all-in-1 entertainment console, last of 3 major systems unveiled
- Creative industries can fuel a city's economic engine
- Bridging the gap
- Apple uses companies outside US to avoid paying billions in taxes, Senate inquiry finds
- Chinese court sentences entrepreneur to death in latest crackdown on underground banking
- Ex-'Pegger seeks to grow local businesses
- Target opens its first Manitoba stores Tuesday
- New structure to be king of downtown?
- Transcona transformation
- Target opens Manitoba stores
- Mounties say crooks passing fake polymer bank notes in British Columbia
- City to get a touch of glass
- Canad Inns property has personal meaning for owner
- Holiday pump jump debated
- Border-fee idea doesn't fly
- Local boy leads Great-West
- New owner for lumber stores
- Developers to unveil plans for bold downtown tower
- Boreal Forest conservation negotiations end in failure after three years
- New downtown tower could be 42 storeys tall: developers
- Canadian telecom company Telus signs deal to buy Mobilicity for $373 million
- Bridging the gap
- Manitoba Movers
- Creative industries can fuel a city's economic engine
- Biden says Jewish leaders in Hollywood, social media drove changing attitudes on gay marriage
- Arizona restaurant becomes poster child for dark side of online customer reviews
- New owner for lumber stores
- Ex-'Pegger seeks to grow local businesses
- Developers to unveil plans for bold downtown tower
- Bridging the gap
- Late deal in workplace sex-harassment case
- More than a new boss
- There are lots of I's in 'team'
- Diversification spurs Exchange Income's growth
- Viterra plans $20 million capacity upgrade at four Saskatchewan grain terminals
- Creative industries can fuel a city's economic engine
- Transcona transformation
- New owner for lumber stores
- New structure to be king of downtown?
- CEO, execs terminated at TCIG
- Target opens its first Manitoba stores Tuesday
- Canad Inns property has personal meaning for owner
- Winnipeg's got the REIT stuff
- Older and jobless? Resource on hand
- Winnipeg Boeing plant set to expand
- Local boy leads Great-West
Ads by Google
You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.
Have Your Say
New to commenting? Check out our Frequently Asked Questions.
The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.