TK Kerstetter, President, Corporate Board Member; Scott Cutler, Executive Vice President, NYSE Euronext; and Darla Stuckey, Senior Vice President, Policy and Advocacy, Society of Corporate Secretaries and Governance Professionals Inc. discuss the Board/Corporate Secretary Relationship.
“60 Minutes” report to be broadcast Sunday, Oct. 10, at 7 p.m. ET/PT, How Speed Traders Are Changing Wall Street. 50 to 70 percent of all U.S. stock trades occur using these high speed electronic trading programs, which helped trigger the market crash last May 6 when one computer algorithm sold $4.1 billion of securities in a 20-minute period. Practitioners can execute and cancel thousands of trades to see which way a market is going and then capitalize on the knowledge gained. Wall Street, where gaming the system appears to have replaced capitalizing companies that provide tangible products and services.
See also Flash Crash Report Out, Regs, Recommendations Ahead, Compliance Week, 10/6/10.