Eliminating every trading error is impossible and the way to address malfunctions that have plagued equity markets this year is to improve testing and oversight, industry executives said at a meeting in Washington.
The Melbourne Storm beat the Canterbury Bulldogs 14-4 to win Australia’s National Rugby League title, securing the championship 2 1/2 years after losing the 2007 and 2009 crowns for salary cap breaches.
The pricing system used by the majority of U.S. stock exchanges should be banned because it encourages trading aimed only at collecting rebates, according to Jeffrey Sprecher, chief executive officer and chairman of IntercontinentalExchange Inc.
Exchange operator NYSE Euronext and brokers Cowen Group Inc. and Knight Capital Group Inc. told a congressional panel they support a pilot program to increase the minimum-price increment for smaller, less-active stocks as a way of spurring trading.
The top U.S. commodity regulator may hamper markets if it writes rules to stop disruptive trading practices without considering the intent behind a transaction, representatives of high-frequency trading firms said.