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Seth Merrin Welcomes Dark Pool Regulations
16 January 2013:
Reacting to FINRA's announcement that the regulator will shine a light on dark pools in 2013, Seth Merrin, Liquidnet founder and CEO, tells FOX Business News that Liquidnet is HFT-free and that he welcomes any regulation that promotes investor confidence.
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2 Comments to "Seth Merrin Welcomes Dark Pool Regulations":
Anonymous
17 January 2013
This rhetoric is becoming very tiresome; Seth Merrin is willfully portraying the market and dark pools as being rife with manipulation with the exception of his own dark pool. It is the same as a restaurant owner telling people to only eat in his restaurant because all other restaurants have got rats in the kitchen. It is rare for a CEO of any company to openly criticize his competitors, it is unheard of that this CEO is also accusing his competitors of allowing market abuse to take place in their venues. It is downright unprofessional for any senior market participant to be accusing entire industries of market abuse without a shred of evidence. It panders well to an audience that believes the financial industry is rife with fraud and misconduct but it damages the image of the industry as a whole. It is these unsubstantiated claims that are directly impacting investor confidence.
Anonymous
22 January 2013
Yes - this is precisely what is wrong in the industry right now. People are pitching their own book without knowing how competitors work. Seth implies that any pool with a high frequency trader is "bad" - not knowing (or mentioning) that most pools enable institutional traders to opt out or control their interactions with high frequency traders. His marketing machine has also explicitly and publicly stated that most of the other pools "cater" to HFTs...its a bunch of self-serving nonsense.