The world of high-frequency trading (HFT) is back in the spotlight after claims in Michael Lewis's new book 'Flash Boys' that the stock market is rigged.
The CEO of the Swiss stock exhange told CNBC he was more concerned about the lack of transparency in so-called dark pools than about HFT per se.
Dark pools are trading systems set up by banks outside regulated exchanges. Their operators argue that the platforms provide liquidity for bigger trades that are harder to execute on stock exchanges.
Lewis alleges that the information gleaned by banks in dark pools could be used by their own trading desks to guess which way the market is moving. He also claims that information could be sold to high frequency traders.