The post BATS Exchange CEO William O’Brien Statements During CNBC Interview Were False appeared first on Floating Path
The HFT debate was recently thrust into the mainstream media spotlight thanks to Michael Lewis’s newest book Flash Boys and took center stage during a heated CNBC interview.
At about 2:10 into the video, when pressed on how Direct Edge’s matching engines price trades, the Chief Executive Officer of the exchange said that they use the faster direct data feeds. Using the slower SIP feed would enable faster participants with direct feeds an unfair speed advantage.
BATS Global Markets wishes to clarify the market data usage of its exchanges. With respect to routing, EDGA & EDGX use direct depth-of-book data feeds for all major exchanges, and data from the relevant securities information processor (SIP) for certain smaller exchanges. With respect to the matching engine, EDGA & EDGX currently use the SIP, but will be transitioning to direct feeds from all major exchanges in January 2015…