At the second Senate Banking Committee hearing on computer-driven trading in the past month, top industry executives called for a significant overhaul of stock market trading rules, which they argue have created an un-level playing field for investors, The Wall Street Journal reports. The panelists claimed that the shift to high-frequency and off-exchange trading has led to such a level of complexity that highly sophisticated investors are at an unfair advantage.
Jeffrey Sprecher chief of IntercontinentalExchange Inc, which owns the New York Stock Exchange, criticized excessive complexity, which he believes “deters some investors and entrepreneurs from accessing the public markets.”
