Posted on 10/20/2009 10:14:48 AM PDT by TigerLikesRooster
Senator Schumer Begins Dark Pool Crack Down
Submitted by Tyler Durden on 10/20/2009 08:52 -0500
Dark Pool Dark Pools Mary Schapiro New York Stock Exchange NYSE Schumer SEC Securities and Exchange Commission Senator Schumer
WASHINGTON, DC—U.S. Senator Charles E. Schumer (D-NY) will hold a conference call with Duncan Niederauer, CEO of the New York Stock Exchange (NYSE), on Tuesday, October 20, 2009 at 12:30 pm to urge the Securities and Exchange Commission (SEC) to institute a series of reforms to better regulate dark pools. Schumer will release a letter he is sending to SEC Chairwoman Mary Schapiro urging several different measures that would help ensure that dark pools and other nonconventional trading platforms operate on a more level playing field with the traditional stock exchanges, such as NYSE and NASDAQ.
(Excerpt) Read more at zerohedge.com ...
Ping!
“yes”
What’s a “dark pool”??
"A method through which which large Wall Street brokerage houses make secret deals away from the markets, in order to make trades that will not affect the price of large blocks of stock." Seems to me that the invisibility of those trades is an essential and useful thing, and to NOT allow them or to expose them would be seriously disruptive to the market.
Good if Chuckie actually does it. Dark pools have derivatives AND CREDIT DEFAULT SWAPS and other crap that taxpayers eventually are forced to bail out
Dark Pool = Schumer’s soul
How much cash will it generate for Chuck’s coffers?
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