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When paying for any big item online, it's best if you can pay using some kind of safe-trader system.
Addressing transparency concerns, the commission said it would publish information about traders on a monthly basis and review its current trader classification system.
Long before the May 6th mayhem the large-trader reporting system was proposed by the SEC to "promote fairness and efficiency in the markets" by requiring that traders and firms who engage in substantial levels of trading activity reveal their identities and disclose their trades.
You reasoned that because high-frequency traders were implicated by regulators in the May 6th "flash crash", the Securities and Exchange Commission's proposal for a large-trader reporting system will help it "track high-frequency trading in the future" and is justified to prevent another meltdown.Nothing could be further from the truth.
A Morgan spokesman declined to say why it had been turned off, but Morgan officials have told regulators the trader believed the system was not working correctly.
From the local moneylender to the sophisticated derivatives trader, the financial system is involved in moving resources from those who have it to those who need it.
Perhaps that is the perfect opportunity to discuss some sort of concerted action to dampen the market's fears of Greece's woes infecting the whole financial system, traders argue.
Traders said the system needed to be more flexible and only used during busy periods.
But the traders say the system is secure and customers can request a receipt is sent to their own smart phone with the details of the transaction.
The data could allow the S.E.C. to analyze claims that some firms take advantage of their faster data feeds to jump in front of slower traders, and complaints that sophisticated traders can jam the system with so many orders that it slows down trading for others.
IBM says that to match the capacity of the system, a trader would have to be able to read the entire works of Shakespeare 10 times in less than one second and then identify and execute a stock trade faster than a hummingbird flaps its wings.
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