MMI CEO in FoxBusiness.com: High-Speed Trading, Fragmentation Silver Lining to Market Glitches

“Clearly, when the markets went down a lot of people were surprised that there are a lot of other markets that trade the same stocks as the New York Stock Exchange,” said Bill Harts, chief executive officer of Modern Markets Initiative, an industry group that supports high-frequency trading.

Indeed, when trading halted last week on the Big Board traders simply redirected their trades to one of 10 or so other registered exchanges available to them, or one of roughly 40 “dark pools” operated by financial firms such as Goldman Sachs (GS) and Credit Suisse (CS).

“All of these other markets continued to trade just fine,” Harts added. “Literally billions of shares continued to trade without a hiccup.”

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