Bill O’Brien is the CEO of Direct Edge, an electronic exchange partially owned by Knight Capital.  In an interview with CNBC today O’Brien spun off what sounded like structured, legal counsel approved, statements regarding the electronic trading industry and what it means to the little guy.

A Few Key points:

2:50 – “SEC has the right focus and will bring the industry together”.

Notice he somewhat admits the industry is broken, which is the direct characterization Themis Trading provides.

3:15 – “I don’t even know what high-frequency trading means”.

4:57 – “Because (HFT) is a buzz-word”

Consider today’s Bernanke Fantaseconds and the induced volatility in SPY attributed to the SEC’s “right path” by allowing Reg NMS, I am very worried that this is the viewpoint of Direct Edge’s CEO.

 

Tags: , , , , , , , ,