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News Link • Economy - Economics USA

BATS Exchange Announces Departure Of President Who Made Misleading Statements On CNBC

• http://www.businessinsider.com, Rob Wile

In April, O'Brien made misleading statements about his trade orders were routed into the exchange, which the firm was then forced to correct a few days later. 

O'Brien asserted that the exchange, the country's second largest, gets its price orders directly from broker-dealers. That wasn't true, and under pressure from regulators, the exchange clarified that it gets its them from NASDAQ's SIP feed. By using the slower SIP feed, high-speed traders can use BATS as a forum to get price advantages.   



Read more: http://www.businessinsider.com/obrien-leaves-bats-2014-7#ixzz38FAzXQWc

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