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SandRidge Energy, Inc. Message Board

  • hrdwkgdog hrdwkgdog Mar 19, 2014 2:08 PM Flag

    OT: If that is true.....then it's an improvement....

    Marketwired, a provider of news releases such as corporate earnings and economic data, has decided to stop providing the releases directly to high-frequency traders.

    Marketwired signed a deal to stop the practice with New York Attorney General Eric Schneiderman, who has stepped up efforts to crack down on abusive practices by high-frequency firms.

    The news follows a decision last month by Berkshire Hathaway Inc.'s Business Wire to stop providing high-speed traders direct access to corporate earnings and other market-moving press releases following consultations with Berkshire Chief Warren Buffett and Mr. Schneiderman's office.

    "High-frequency traders who drain the value out of market-moving information in the milliseconds before it becomes widely available to other investors erode confidence in our markets and skim from the rest of the investing public," Mr. Schneiderman said in statement Wednesday.

    Marketwired said in a statement that it will "no longer provide its distribution service to high frequency trading firms," a move that "enables us to continue serving our customers under the highest ethical standards."

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