New York magazine looks at how Goldman is seen as the “ugly essence of capitalism at its most cynical,” and how it is handling so much attention. Includes a stroll through Goldman’s 50th-floor trading room in One New York Plaza, where Goldmanites are seen hovering over computer screens. Read summary via NYT and link to NY Magazine.
Flash orders allow certain members of Direct Edge, Nasdaq and BATS exchanges access (for a fee) to order information for milliseconds prior to that information being made available to the public. High-speed computer software can take advantage of that brief period to allow those members to trade ahead — at better prices — and therefore profit from advanced knowledge of buying and selling activity. ”If the S.E.C. fails to curb this practice, I plan to introduce legislation in the U.S. Senate to prohibit the use of flash orders,” Sen. Schumer said. Go to Article from AP via The NY Times
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