SEC Issues Largest Fine Ever To Exchange Over High Frequency Trading Infractions

High frequency trading critics Haim Bodek and Michael Lewis, author of the book Flash Boys, are likely nodding their heads with satisfaction today, as the U.S. Securities and Exchange Commission announced the largest fine ever against an exchange.

SEC fines high frequency trading exchanges

Lewis popularized the notion that high frequency trading had "rigged" the markets and the SEC fine today addresses some of the issues he and others had raised. The regulator is fining two exchanges $14 million for, among other things, not providing information on how certain order types worked to the public, but providing this information to high frequency trading firms. The two fined exchanges were...