HFT exchange BATS ex CEO resigned but may consult but IEX and Flash Boy Brad Katsuyama not invited to the Washington regulation party
Some highlights from this New York Post article:
Garrett, chairman of the House Financial Services subcommittee on capital markets, invited execs from 18 firms that touch on every aspect of high-frequency trading, from brokers Citadel and Virtu to exchanges like Nasdaq and BATS.
Bill O’Brien, the ex-president of BATS, left his job last week after Schneiderman’s office and the SEC pressured him to step down following a televised fight with Katsuyama, in which O’Brien mistakenly claimed there was no difference in the speeds of BATS data feeds, according to two people told of his departure. Neither BATS nor O’Brien would comment.
Garrett’s panel won’t touch on the main thesis of Lewis’ book — that some traders wield ultra-fast connections essentially as surveillance on the market, bidding up prices before others can get to it. Instead, it will focus on fees, pricing feeds and other trading technology.
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