Commentary

Elaine Wah

Modern Markets, Modern Metrics - A Blog By IEX

In this blog by IEX's Elaine Wah, the newest public exchange looks to refute public claims that the metrics it uses are designed to inflate its own volume numbers and mislead people.

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December 8, 2009

SEC's New Head of Trading

By Nina Mehta

The Securities and Exchange Commission named Robert W. Cook, a partner at law firm Cleary Gottlieb Steen & Hamilton, as the new director of the Division of Trading and Markets.

Robert W. Cook

Cook, a partner in the Washington, D.C. office of Cleary Gottlieb, has focused in recent years on over-the-counter derivatives transactions, new financial products, securities trading and compliance issues.

"Robert has an incredible grasp of the issues confronting the division and a deep understanding of securities markets," SEC Chairman Mary Schapiro said.

Among other topics, the Division of Trading and Markets is currently focused on hot-button issues related to short selling, high-frequency trading, dark pools, flash orders and co-location. The SEC is also under the gun from Senators Charles Schumer, D-N.Y., and Ted Kaufman, D-Del., both of whom have criticized the Commission for what they describe as weak oversight of the securities markets. The senators have agitated for new regulations and a broad review of market structure issues.

Cook, who is 44, joined Cleary Gottlieb in 1992. He received a law degree from Harvard Law School that same year, and an M.S. in industrial relations and personnel management from the London School of Economics in 1989. He was an undergraduate at Harvard University.

 

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