Biz: “Flash Crash”: Senators set sights on automated trading
- A computer glitch caused yesterday’s crash. High-speed algorithmic trading, which accounts for nearly 60 percent of all trading volume, is already under scrutiny by regulators due to the financial crisis. Now, thanks to yesterday’s buttcrack, some Senators are suggesting an investigation. Many are concerned that the automated system can fall out of the control of regulators, causing cluster#(&@s such as the one we saw yesterday. With good reason. source