SEC Sanctions Direct Edge for Weak Internal Controls, Oct. 13, 2011
The nation’s securities regulator said weak internal controls at Direct Edge caused millions of dollars in trading losses and a systems outage. Untested computer code changes led to unwanted trades involving nearly 27 million shares in 1,000 stocks, totaling roughly $773 million. Direct Edge settled the matter with the SEC without admitting wrongdoing.
[TMX Aims To Acquire Direct Edge Holdings]
As the Senior Editor of Advanced Trading, Justin Grant plays a key role in steering the magazine's coverage of the latest issues affecting the buy-side trading community. Since joining Advanced Trading in 2010, Grant's news analysis has touched on everything from the latest ... View Full Bio