And then again.... Extract from Business Australian P20 today:
'.....The Commodity Futures Trading Commission is investigating deals between large high-speed firms and the two futures-exchange operators, CME and IntercontinentalExchange (ICE). The probe is focused on complicated, often opaque incentive programs that give high-volume trading firms financial benefits such as discounts on fees the exchanges charge to execute trades, the people said.
Separately, Securities and Exchange Commission enforcement officials were investigating whether stock exchanges provided advantages to certain clients, including high-frequency traders, by designing software programs that could give preferential treatment to their orders, and whether such details had been fully disclosed, people familiar with that inquiry said."
