ALGOS GONE WILD
Stock market regulators last year started pounding the drums on high-frequency trading, which is estimated to be involved in more than half of all cash equities and commodities trading volume.
While the U.S. Securities and Exchange Commission, under some political pressure, has led the charge in peeling back layers of the complicated marketplace, the CFTC this year followed suit with a new technology panel that aims to sniff out unfair advantages or systemic risks associated with high-frequency trading.
Whitman is a high-profile member of this panel. With 250 employees and offices in New York and London, Infinium is among the heavyweights in a group of proprietary firms called the Principal Traders Group, which formed this year to promote the benefits of electronic trading.
Meanwhile, Commissioner Bart Chilton told Reuters late last month he is "itching" to use the CFTC's new authorities, under the Dodd-Frank Act, to fight trading practices that disrupt oil prices.