Sen. Schumer wants the role of market-making firms clarified

Sen. Charles Schumer, D-N.Y., suggested that high-frequency traders be required to provide market liquidity, as he sought a clarification on the role of market-making firms. "Requiring more high-frequency traders to be legally obligated to step in and provide liquidity would go a long way in helping to avoid sudden, rapid price plunges like the May 6 flash crash," Schumer said in a letter to Securities and Exchange Commission Chairman Mary Schapiro.

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