Quote:
Originally Posted by PennBF
Being able to gain knowledge through public sources does not, in my opinion and by default the SEC "insider trading". I am sure the SEC has more than studied these processes and since they have not charged the users as in violation of Trading Laws they are currently legal. I personally believe the 60 Minute piece was smoke and just used to attrack viewers. I have no "dog in the hunt" but do have some experience on the market and trading and just expressing my opinion. I would just add that I am positive there have been a large number of Attorney's who have examined the practices and are feeding the SEC all sorts of information and justifications in support of the Clients using these systems to byb/sell.  |
Noooooo... it is not public information... not in the way you are describing it and probably thinking about it!
Rather than try to describe it in a post and not do a good job of it... you should read about it.
But it could be the unintended cosequences of technology speed increasing and placement of certain technology that enables "certain" HFTs to use the data they
"buy", to front-run trades. It may be one of those things that was discovered, first started small, and then became common place.
But that data that is made available (apparently for a fee) appears to be part of the controversy.
It is complicated. Put it like this.... technology has changed, the rules have changed and some small group of those entities labeled as HFTs (not all of them) appear to be exploiting the market. Other market participants believe to to be unfair.