The Securities and Exchange Commission and Chair Mary Jo White will be holding a news conference to officially launch and promote its new market structure and analysis website Wednesday.
The conference will be held in Washington D.C. at the SEC’s headquarters at 9am EST.
As previously reported, the purpose of the site is to make public market data, research and analysis used by market traders, in particular, high-frequency trading firms.
The site will share some of the agency’s research into topics such as strategies that cancel a high-percentage of orders, which can give the appearance of false liquidity, SEC Chairman Mary Jo White said at a recent speech.
It also will allow users to explore trading-activity patterns in “easy-to-read charts and graphs,” she said, according to prepared remarks for the Security Traders Association’s market structure conference last week.
The SEC’s effort is meant to inject data-driven analysis into complaints that technology has given some sophisticated traders an unfair advantage. The regulator has worked to improve its understanding of market behavior after taking more than four months to explain the May 2010 flash crash, when about $862 billion in U.S. equity value was wiped out in minutes before share prices recovered.
[See More on SEC and the Data Contract]
The SEC’s data-mining effort was boosted by its acquisition of Midas, an acronym for Market Information Data Analytics System. The agency acquired Midas last year from Red Bank, New Jersey-based high-frequency trading firm and technology vendor Tradeworx.
DETAILS:
WHO: SEC Chair Mary Jo White
WHAT: News conference to launch SEC market structure data and analysis website. Chair White described the website in a recent speech.
WHERE: SEC headquarters – briefing area outside auditorium
100 F Street, NE
Washington D.C.
WHEN: Wednesday, October 9 – 10 a.m. Eastern Time
Real-time and archived video and audio webcasts of the press conference will be accessible from the home page of the SEC website: www.sec.gov.
