Rhode Island city sues over HFT

Providence, Rhode Island has sued 14 brokers, 16 securities exchanges and 12 high-frequency trading (HFT) firms for allegedly rigging securities markets. In a complaint in the District Court for the Southern District of New York (SDNY), the city claims the defendants, which include the Bank of America and the New York Stock Exchange, allowed traders to gain access to non-public data and profited from investors who ordered trades.

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