Not Insider Trading? Part II

For more background on "flash" trading, see my prior post "Not Insider Trading? Part I."

Senator Charles Schumer (D-NY) said earlier today that an SEC ban on flash trading was "imminent." Schumer said that in a discussion he had with Securities and Exchange Commission Chairman Mary Schapiro, she personally promised him that the ban would be forthcoming. This is part of a broader investigation into questionable trading practices such as "dark pools," anonymous trading groups, and high frequency traders. Schumer further stated that it is"important to make sure flash orders aren't just the tip of an iceberg lurking in the dark reaches of the market."