Good, the high frequency traders are a pox on the markets. SEC Proposes Rules That Would Squeeze Stock-Market Middlemen “Today’s markets are not as fair and competitive as possible for individual investors,” SEC Chair Gary Gensler said. The SEC’s proposals are expected to face opposition from brokerages and so-called wholesalers—trading firms such as Citadel Securities and Virtu Financial Inc., VIRT -6.36%decrease; red down pointing triangle which handle many of the orders placed by individual investors. Such middlemen, who trade billions of shares a year and profit by selling them at slightly higher prices than they bought them, would face new regulatory requirements that could compress their earnings. They have argued that individual investors get a good deal under the current system and warned that the SEC’s overhaul could backfire and end up hurting investors.
