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Stories Stories Business NY Attorney General subpoenas HFT firms

NY Attorney General subpoenas HFT firms

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Written by melody     April 19, 2014    
 
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The New York Attorney General's office recently sent subpoenas to a number of firms specializing in high-frequency trading, "HFT" for short, according to sources.

Six firms received subpoenas and one additional firm received a letter asking for more information.

New York Attorney General

HFT has come under scrutiny over the past several weeks following the release of the Michael Lewis book "Flash Boys".

In the book Lewis and others allege that HFT is a way of "rigging" the market and creates an unfair advantage for the firms who specialize in the technique.

New York Attorney General Eric Schneiderman's office has been investigating high-frequency traders for several months. Schneiderman has personally spoken out about the issues, including penning a commentary in the New York Daily News about HFT on April 3.

[Read Full Article: NY Attorney General subpoenas HFT firms]

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Epicentre
120 Broadway Room 4-120, New York, NY 10271

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Patrick M. Sheridan
Contributor's Comment
High speed traders aren't having a great 2014.
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