New York seeks curbs on high-frequency trading (BBC)

[eppur_se_muova]

New York's attorney general has called for curbs on services provided to high-frequency traders.

In particular Eric Schneiderman highlighted services that allow traders to get faster access to information.

He said traders can make "rapid and often risk-free trades before the rest of the market can react".

High frequency trading is where firms create sophisticated computer programs to buy and sell stocks in milliseconds, faster than any human.

It has grown in popularity in recent years, but it has also come under scrutiny.
***
more: http://www.bbc.com/news/business-26637465

[arcane1]

1. It absolutely should come under scrutiny.

It's not really an "investment" if you only have it for a millisecond.

[Vincardog]

2. A financial transaction tax would end this BS

[Kelvin Mace]

3. It is called a transaction tax

equal to .015625% of the transaction value.

That would slow them down in a hurry.

Also, adjust the capital gains tax to be VERY punitive on short terms gains under 30 days at 90%, with long terms gains (30+ years) taxed at 5%.

That leads to some very responsible and conservative investing.

[mike_c]

4. ^^^^^^^^^^

eom