Exchanges Supercharge Rules to Fight Cheaters Based Outside U.S.

  • Bats CEO wants faster crackdowns on market manipulators
  • Spoofing persists despite efforts to eliminate the practice

Bats Global Markets CEO Chris Concannon is leading the charge against brokers that enable manipulators.

Photographer: Andrew Harrer/Bloomberg

Foreign day traders were breaking rules and dodging regulators when Chris Concannon left Nasdaq Inc. in 2009. When he returned to the exchange industry five years later, he was dismayed to find it was still happening.

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