I am humbled that my colleagues have placed their trust in me to lead @FinancialCmte as their next Chairman. It was a privilege to join my exceptional colleagues, @RepAndyBarr, @RepHuizenga, and @RepFrankLucas, in sharing our visions for this committee.
https://t.co/7XNgGrLRJy
SEC Order Granting Partial Stay - The Commission has determined to exercise its discretion to stay the Final Rules’ amendments to Rules 600(b)(89)(i)(F) (including in the definition of regulatory data an indicator of the applicable minimum pricing increment required under Rule 612), 610(c) (reducing the access fee caps for protected quotations), and 612 (reducing the minimum pricing increment for quotations and orders for certain NMS stocks) pending the completion of judicial review of the petitions for review.
https://t.co/ehHVcZAtkM
🚨NEW: An email received by way of a FOIA request from @VirtuFinancial into the communications of @GaryGensler revealed that the @SECGov’s Director of Trading and Markets, Haoxiang Zhu (then a prospective employee), marketed himself as being “in the right place on the political spectrum.” He was then hired 6 months later. This email obtained by Virtu became the basis for the investigation launched by @Jim_Jordan, @RepJamesComer and @PatrickMcHenry.
Virtu Financial has been warring with the SEC since the agency sued the company for allegedly making misleading disclosure statements regarding safeguarding customer information. Virtu’s CEO @Dougielarge tells me:
“Sadly this isn’t surprising. I’ve repeatedly said that Gensler’s agenda is more motivated by politics than by a genuine desire to improve markets - and the results of our FOIA litigation uncovered just that.”
In a statement to @FoxBusiness, an SEC spokeswoman said: “Chair Gensler will respond to Members of Congress directly.”
A @VirtuFinancial arrival-price oriented trading tool that switches between different algorithms depending on order characteristics and real time information. Is it good? Its GREAT - Don't let the accurate but unimaginative name fool ya.
SWITCHER
https://t.co/LDflqfvY7Q
Virtu's new Switcher algo is designed as a “co-pilot” for traders, allowing them to switch algorithms throughout the life of an order based on its characteristics and market conditions.
Read @theTRADEnews full article below:
https://t.co/D51f7Ng1hg