{"id":826,"date":"2014-10-29T09:49:36","date_gmt":"2014-10-29T13:49:36","guid":{"rendered":"http:\/\/olduvai.ca\/?p=826"},"modified":"2014-10-29T09:49:36","modified_gmt":"2014-10-29T13:49:36","slug":"us-taxpayers-pay-for-sec-to-arrange-early-release-of-data-to-high-speed-trading-firms","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=826","title":{"rendered":"US Taxpayers Pay For SEC to Arrange Early Release of Data to High Speed Trading Firms"},"content":{"rendered":"<p><a href=\"http:\/\/blog.themistrading.com\/us-taxpayers-pay-for-sec-to-arrange-early-release-of-data-to-high-speed-trading-firms\/\">US Taxpayers Pay For SEC to Arrange Early Release of Data to High Speed Trading Firms<\/a>.<\/p>\n<p>The SEC reportedly does not like trading on information that is not yet public. Just ask SAC Capital, or if you prefer, watch the plethora of insider trading SEC news conferences in general.<\/p>\n<p>Why, even this morning there is a WSJ story about the\u00a0<a href=\"http:\/\/online.wsj.com\/articles\/insider-trading-probe-focuses-on-medicare-agency-1414540043\">SEC\u2019s investigation into the early leak and release of Medicare cancer related funding data<\/a>\u00a0, which is an investigation into a different government agency!<\/p>\n<p>And remember last year, when the SEC began investigating\u00a0<a href=\"http:\/\/dealbook.nytimes.com\/2013\/06\/27\/s-e-c-starts-inquiry-into-data-release-by-thomson-reuters\/?_php=true&amp;_type=blogs&amp;_r=0\">Thompson Reuter\u2019s early release of ISM data<\/a>\u00a0to certain high speed subscribers. While the SEC brought no charges against Thompson Reuters, the data firm did subsequently suspend its \u201ctiered release\u201d practice:<\/p>\n<p><i>On Monday, Thomson Reuters announced that it was suspending a so-called \u201ctiered release\u201d of market moving data to elite clients. The data and news service had been selling the University of Michigan\u2019s consumer sentiment numbers to paying clients at 9:54:58 on release days\u2014two seconds before the information went to a broader set of clients at 9:55 am. That created an opportunity for high speed trading firms to rake in profits before the rest of the market knew which direction the impending news would propel trading.<\/i><\/p>\n<p>&nbsp;<\/p>\n<p><span class=\"Apple-style-span\" style=\"font-family: Arial, Helvetica, sans-serif; font-size: 11px; color: #000000; line-height: normal;\">&#8211; See more at: http:\/\/blog.themistrading.com\/us-taxpayers-pay-for-sec-to-arrange-early-release-of-data-to-high-speed-trading-firms\/#sthash.Q5Ovnhx5.dpuf<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>US Taxpayers Pay For SEC to Arrange Early Release of Data to High Speed Trading Firms. The SEC reportedly does not like trading on information that is not yet public. Just ask SAC Capital, or if you prefer, watch the plethora of insider trading SEC news conferences in general. Why, even this morning there is [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[400,401,709,711],"class_list":["post-826","post","type-post","status-publish","format-standard","hentry","category-economics","tag-hft","tag-high-frequency-trading","tag-sec","tag-securities-exchange-commission"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/826","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=826"}],"version-history":[{"count":0,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/826\/revisions"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=826"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=826"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=826"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}