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Exchanges joust as SEC works to finalise flash order ban

US markets are at odds over the securities regulator's plan to ban flash orders

Nasdaq OMX and NYSE Euronext support the US Securities and Exchange Commission's proposal to ban flash orders in all trading, while the Chicago Board Options Exchange opposes it for the options market, according to comments to the SEC that were made public this week.

The SEC proposed banning flash orders last year, responding to concerns that some investors are getting an unfair advantage. Flash orders give certain large traders sneak peeks at market activity.

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