[Capitalist finance:] A recent type of sneaky stock trading by brokerage firms on Wall Street which has the two following characteristics:
1) The brokerage firm secretly monitors for its own benefit the buying and selling of stocks by its customers, and if the orders are substantial (and thus might affect the price of the stock), makes purchases or sales for its own account as well. (And sometimes also sells a 30 milli-second sneak preview to other speculators.); and
2) The use of very high speed computers to make its own purchases and sales of stock so that its own trading will occur before that of its customers.
This is yet another form of thievery by the financial capitalists, though in this case it involves cheating other financial speculators. Apparently flash trading is currently legal. (As of August 2009 the U.S. Securities and Exchange Commission is considering making flash trading against its rules, though it is far from clear how they will be able to enforce such new rules.)
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