The SEC’s New Technology Drive – Pass or Fail?

SEC Chairman Elisse Walters has highlighted what the regulator is doing to prevent technology glitches and fraud. Here are some of the top reactions to its new tech drive.

2. Now that the technology is here, some experts believe that Midas is actually really superficial.

Odd there is no mention of the fact that Midas will only offer data on equities. No options, no futures, no currencies, no indexes, no futures options, no spreads. Didn't the SEC blame the eMini futures market for the flash crash? And they never even looked at what happened in the options market on that day (there were huge out of the money bets placed on a market drop just 20 minutes prior). Or any day for that matter.

-- Nanex, in a comment on a Washington Post article describing the technology. Melanie Rodier has worked as a print and broadcast journalist for over 10 years, covering business and finance, general news, and film trade news. Prior to joining Wall Street & Technology in April 2007, Melanie lived in Paris, where she worked for the International Herald ... View Full Bio

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