Financial Times FT.com

Nasdaq OMX and BATS to end ‘flash orders’

By Michael Mackenzie and Joanna Chung in New York

Published: August 7 2009 00:15 | Last updated: August 7 2009 00:15

Two of the three US equity exchanges that allow traders to use flash orders said on Thursday they would voluntarily end the practice at the start of ­September.

The announcements by Nasdaq OMX and BATS Trading came only days after Mary Schapiro, chairman of the Securities and Exchange Commission, signalled that the SEC would clamp down on flash trading amid concerns it puts some investors at a disadvantage.

You have viewed your allowance of free articles. If you wish to view more, click the button below.

Read this