The SEC’s New Technology Drive – Pass or Fail?
In a speech Elisse Walter gave this week at the American University Washington College of Law on "Harnessing Tomorrow’s Technology for Today’s Investors and Markets," the SEC chair spoke about new rules to prevent software glitches, and also referred to the regulator’s new software, dubbed "Midas," which enables it to track all market orders with the aim of helping to monitor and understand mini-flash crashes, or pick up on possibly illegal behavior.
Here are some of the best reactions to the SEC’s latest technology mission:
1. The SEC’s reaction to the embarrassing series of technology glitches that hit the markets last year is sure taking a long time to come.
After months of clutching their pearls over #Knight's market disruptions, #SEC is finally writing rules? Gobsmacked. ow.ly/hSXRu
— John Needham (@johnpneedham) February 20, 2013
-- after the SEC announced last week that exchanges and other trading platforms would need to perform tests to prevent software errors from unleashing havoc on the market under proposed rules. Melanie Rodier has worked as a print and broadcast journalist for over 10 years, covering business and finance, general news, and film trade news. Prior to joining Wall Street & Technology in April 2007, Melanie lived in Paris, where she worked for the International Herald ... View Full Bio
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