The Quote Exception Rule: Giving High Frequency Traders an Unintended Advantage

Material TypeArticleLanguageEnglish
TitleThe Quote Exception Rule: Giving High Frequency Traders an Unintended Advantage Author(S)Thomas H. McInish (Author)
Abstract  Under the Securities and Exchange Commission (SEC) Rule 611 exchanges that have not matched a new National Best Bid and Offer (NBBO) can trade at the old NBBO for one second. In 2008, this rule allowed fast traders to earn estimated revenues of $233 million at the expense of slow traders. ...Paginationp 481-502
SubjectManagementDescriptorsFinance
Journal TitleFinancial management  
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