The May 6 Flash Crash has sent the Investment Company Institute into action. The Washington trade association wants a better handle on high-frequency trading and dark pools. Not only is the ICI asking this clandestine corner of the market for more information, but it’s urging the Securities and Exchange Commission to look closer, too.

While noting that the mutual fund industry, which buys stocks in large share lots, is not "anti-high frequency trading," the association's counsel said practitioners of algorithmic trades with frequent cancellations need to provide better details to institutional investors and to the SEC.

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