Take all your Flash Crashes and "Knightmares" and trading "glitches" and, well, chill out. Wall Street pros say market structure is pretty much better than ever.
Fresh off the computer issue—or "glitch"—that shut down floor trading on July 8 at the New York Stock Exchange comes a survey from the Tabb Group showing confidence in how the market operates is at its highest level in at least five years.
The survey of 266 market professionals saw 64 percent of respondents say their level of confidence in market structure was either "very high" or "high."
That's something considering the run of bad publicity during that period.
There was the "Flash Crash" of 2010 that saw the Dow industrials lose more than 600 points in a few minutes. Then in 2012 there was the major fail during the Facebook initial public offering that saw the company's debut delayed, as well as the Knight Capital "Knightmare" fiasco that caused violent price swings for about 150 publicly traded companies.
And, of course, there was the impassioned public debate triggered in 2014 when Michael Lewis published "Flash Boys," a book that skewered the high-frequency trading industry and saw the author famously call the stock market "rigged."