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Whistleblower award for NYSE fine goes to HFT critic
"Eric Hunsader, a vocal critic of high-frequency traders, said the Securities and Exchange Commission is sending him a $750,000 whistleblower award.
On Jan. 15 the SEC confirmed it would pay “more than $700,000” to a whistleblower that had provided the “independent analysis as well as independent knowledge of securities law violations” that led to a $5 million fine for the New York Stock Exchange in 2012. Hunsader showed MarketWatch a letter from the SEC that confirmed the approval of his award and told MarketWatch he was the recipient of a pending award for the tip that led to the NYSE fine. By law, the SEC does not publicly identify the whistleblower’s name or the company that was subject to the order. The notice to Hunsader on Monday also said the time period for all other potential claimants to appeal the SEC decision on the same issue had expired.
A spokeswoman from the SEC declined comment on the whistleblower award. "
Hunsader has been described as the 'nemesis' of HFT. He posts multiple tweets per day about it, often detailing why certain HFT companies are gaining what is seen as an unfair advantage, especially in the equities space.
Hey no problem Ron. I follow the guy and he's good. Sometimes though I think he tweets way too much about one specific issue, and that has the risk of making him appear negative. Quality tweets nevertheless.
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
Posts: 2,311 since Nov 2011
Thanks Given: 7,341
Thanks Received: 4,518
I did feel that way a bit after reading a few of his tweets but I try not to throw stones in a glass house but next thing I know I'm holding a BB gun.....lol.......hehe
On a side note...gee this green tea is good...(huh?...lol)
Ron
...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
Posts: 2,311 since Nov 2011
Thanks Given: 7,341
Thanks Received: 4,518
I don't really think one can turn off or otherwise somehow mask or camouflage "feelings" just because of a "data driven" approach. Pretend doesn't exist, yep. All of life pours through the filter of self. Next thing you know the loaf of bread shuns the baker....lol.
But still great stuff. We all have our issues.
Ron
...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
...hehe
