Economic

The FBI is investigating high-speed Wall Street traders for possible insider dealing

“An FBI spokesperson said the bureau launched its investigation — known as the High-Speed Trading Initiative — a year ago. The investigation is looking for violations of insider trading laws in a variety of trading activities, including whether high-speed traders have access to unfair advantages such as ultra-fast data-feeds, and if they are manipulating the market with floods of purchase and sales orders. The initiative is still in its early stages, but reportedly has a large number of agents involved. ‘There is a big concern that high frequency traders are getting material nonpublic information ahead of others and trading on it,’ an FBI spokesperson said. ‘There are many people in government who are very focused on this and who are concerned about it and who think it breaks the law.'”

Source:The FBI is investigating high-speed Wall Street traders for possible insider dealing | The Verge

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