MMI Supports the Registration of HFT Firms with FINRA

The Issue:

On March 25, 2015 the Securities and Exchange Commission proposed rule amendments to require that broker-dealers trading in off-exchange venues become members of a national securities association. The amendments were aimed to enhance regulatory oversight of active proprietary trading firms, such as high frequency traders.

MMI’s Stance:

We support efforts at greater transparency to boost investor confidence in the modern markets. Our Member firms are all registered with the U.S. Securities and Exchange Commission, the CBOE and, through their registration with several exchanges, the Financial Industry Regulatory Authority.

SEC Rules Would Boost Oversight of High-Frequency Firms

SEC Rules Would Boost Oversight of High-Frequency Firms
The Wall Street Journal article reporting on the SEC’s unanimous vote to require computer-driven trading firms to register with the Financial Industry Regulatory Authority. Adam Nunes, head of business development at MMI Member firm Hudson River, said the rules won’t be a big change for his firm because it is a member of several exchanges that already outsource regulatory functions to Finra.