SEC’s High-Speed Trader Plan Embraced by Exchange Leaders

A sweeping blueprint designed by the U.S. Securities and Exchange Commission to reduce conflicts of interest in the stock market won support from leaders of exchanges and large money managers.

Chief executives from the New York Stock Exchange to institutional investors including Citadel LLC and Invesco Ltd. backed the commission’s call to rein in some high-frequency trading and make secretive trading venues known as dark pools disclose more about how they work. The SEC also should move forward with a plan to require that brokers provide investors with detailed maps of how their orders are filled, the executives said yesterday at a hearing of the Senate Banking Committee.