Difference between revisions of "Eric T. Schneiderman"

Jump to navigation Jump to search
no edit summary
Line 17: Line 17:
Eric T. Schneiderman is the 65th Attorney General of New York State. He was elected on November 2, 2010. As Attorney General, he is the highest ranking law enforcement officer for the State, responsible for representing New York and its residents in legal matters.  
Eric T. Schneiderman is the 65th Attorney General of New York State. He was elected on November 2, 2010. As Attorney General, he is the highest ranking law enforcement officer for the State, responsible for representing New York and its residents in legal matters.  


In 2014, he spearheaded an effort to crack down on high frequency traders and began looking into services that allow fast traders to profit on important information before other investors see it. He urged regulators and stock exchanges to curb some of these practices, which he said helped foster what he called “insider trading 2.0.”  He focused on the exchanges in particular, including the New York Stock Exchange and Nasdaq, because they permit high-frequency traders to pay to "co-locate" their computer servers within the exchanges’ data centers, thereby cutting milliseconds off the time it takes them to receive market information.
In 2014, he spearheaded an effort to crack down on high frequency traders and began looking into services that allow fast traders to profit on important information before other investors see it. He urged regulators and stock exchanges to curb some of these practices, which he said helped foster what he called “insider trading 2.0.”  He focused on the exchanges in particular, including the New York Stock Exchange and Nasdaq, because they permit high-frequency traders to pay to "co-locate" their computer servers within the exchanges’ data centers, thereby cutting milliseconds off the time it takes them to receive market information.<ref>{{cite web|url=http://dealbook.nytimes.com/2014/03/18/schneiderman-announces-inquiry-into-services-for-high-speed-traders/|name=Inquiry Into High-Speed Trading Widens|org=New York Times Dealbook|date=March 20, 2014}}</ref>


== Background ==
== Background ==

Navigation menu