Direct Edge has been sanctioned for weak internal controls that led to millions of dollars in trading losses and a systems outage.

The SEC said untested computer code changes led to the overfulfillment of orders on Direct Edge's two national exchanges, EDGA and EDGX in one instance in late 2010.

Register or login for access to this item and much more

All On Wall Street content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access