The word inside the SEC is that Gensler wants to get his proposed changes done before the new GOP Congress takes over Jan. 3.
Here’s where things get interesting: Gensler met with SBF months before the blowup. The SEC had additional meetings with the fallen crypto bro’s people and business partners who were looking to start a commission-approved exchange. GOPers want to hear how all this occurred under the nose of Wall Street’s so-called top cop.
It’s more complicated than just a bunch of guys on the New York Stock Exchange screaming out bids to match buyers and sellers.For starters, most of those guys are gone, replaced by computers that can match orders in nanoseconds. The main public stock markets, the NYSE and the Nasdaq, aren’t the only game in town and are in competition to match buyers and sellers with private exchanges and market makers, companies like Citadel Securities and Virtu Financial.
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