Industry Clamors for Regulatory Clarity

"We want more clarity around what is a dark market," says Robert Gasser, CEO and president of Investment Technology Group (ITG). "[Schapiro and the SEC] should really look at an inside market where there is information flow and an outside market where people don't see that necessarily."

Gasser says he agrees with Schapiro's distinction about the value of anonymous block liquidity matching. "[The SEC] did that in the form of a $200,000 notional limit, under which you are not subject [to

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