Traders should welcome the Securities and Exchange Commission's plan to probe high-frequency trading, Themis Trading’s Joe Saluzzi said Friday.
“We’re excited to see regulators are taking this more seriously,” Saluzzi said on “The Kudlow Report.”
“There’s over 13 stocks exchanges and 40 dark pools all competing for this high-frequency flow, so it’s this web of interconnected market centers held together by glue, which is called high-frequency trading,” he said.
On a day when a software glitch roiled the BATS trading platform, the Wall Street Journal reported that the SEC would investigate rapid trading and the relationships between exchanges and high-frequency trading firms.