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Regulators: Do Brokers Peek?

Traders Magazine, November 2007

Nina Mehta

Regulators intend to look at an old problem with a new twist: a potential form of front-running by broker-dealers acting on aggregated customer order-flow information. The Securities and Exchange Commission and the Financial Industry Regulatory Authority both recently said they are interested in examining how brokers use aggregated order-flow data in their trading decisions and market-making algorithms.

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