Getting your player ready...
WASHINGTON — Federal regulators moved Wednesday toward requiring a uniform system for tracking all securities orders on U.S. exchanges, in hopes of making it easier to investigate market disruptions like the May 6 plunge.
Members of the Securities and Exchange Commission proposed on a 5-0 vote requiring exchanges to maintain an “audit trail” covering trading orders from start to execution.
The regulators say that would make it easier to investigate market disruptions like the so-called flash crash this month that sent the Dow Jones industrials down nearly 1,000 points in less than 30 minutes.
