1. Fast Traders Get SEC Data Seconds Early.
- Author
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TRACY, RYAN, PATTERSON, SCOTT, Hope, Bradley, and Ackerman, Andrew
- Subjects
- *
DISCLOSURE , *HIGH-frequency trading (Securities) , *HEDGE funds - Abstract
The article discusses results of a pair of studies that show hedge funds, high-frequency traders, and others who subscribe to a data feed from the U.S. Securities and Exchange Commission (SEC) receive company filings from the SEC moments before they are posted at the agency's Website, thus creating an opportunity for profitable trading. One paper co-written by Jonathan Rogers of the University of Colorado shows the discrepancy leads to movement in prices and trading volume.
- Published
- 2014