FBI probing high-speed trading on Wall Street in search of fraud
April 2, 2014, 12:01 am TWN
NEW YORK--The FBI said on Monday it was probing high speed trading on Wall Street, a controversial practice in which computers carry out transactions in seconds or faster.
Investigators are looking into possible securities fraud, wire fraud and insider trading by companies or people who engage in this kind of trading based on rapid fire transactions using complex algorithms, an FBI spokesman told AFP.
The official would not say if the probe is being carried out in conjunction with an investigation by New York State Attorney General Eric Schneiderman.