Black-box traders need transparency, says quant veteran

Apr 20, 2010

Investors know who are the biggest owners of a given stock, but have no idea who’s actually trading it, says former Morgan Stanley electronic trader.

While high-frequency trading has brought efficiencies to stock markets through lower commissions and narrower spreads, the ability of some traders to cause dramatic spikes in stock performance suggests regulation and transparency around black-box investors is required.

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