“The Securities and Exchange Commission on Wednesday voted 5-0 to propose new rules for large traders that would assign them unique identifiers and require them to report next-day transaction data,” Fawn Johnson reports for The Wall Street Journal.
“The rules are designed to give the SEC a better handle on high-frequency trading, in which trades are transacted in milliseconds and dispersed among many trading centers,” Johnson reports. “Next-day access to trading data could be used by the SEC to promptly reconstruct market activity and perform other trading analyses, according to a summary of the proposal.”
Johnson reports, “The data also could assist investigators in finding manipulative, abusive or otherwise-illegal trading activity.”
Full article here.