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If we're gonna have that panel coming up again we are now -- nine minutes away everybody that first to this story nasdaq's mishandling.
Of the FaceBook IPO is just one of the topics at a house hearing today on the role of financial markets and market makers and apparel has the latest -- happen.
And it's the house financial services committee essentially looking at how they might actually have new regulation of the exchanges they were actually listening.
To the people who are involved with the exchanges and -- -- Other than Duncan Niederauer himself who essentially put it very simply that investors have lost confidence.
In the exchanges here's what he said.
This citizenry has lost trust and confidence in the underlying mechanism what used to be an investor's market is now thought of as the trader's market.
And I think -- convinced ourselves along the way that speed is synonymous with market quality.
And in some cases it might be in other cases.
It clearly isn't.
There were discussions about what happened during the flash crash couple years ago but basically what -- heard the committee the people who were testifying like mr.
Niederauer saying his.
It would not be such a bad idea to have more transparency that the rules that apply for the open and public exchanges should apply to the private exchanges let's put some transparency into the dark pools why are we doing all of this so opaque.
-- -- talking more about regulation new regulation they are talking about new regulations they want obviously to do this in a way that doesn't cramp down on the ability to raise capital.
But they acknowledge that there is at the end of the day a lack of confidence from small time and regular investors like -- and Adam Shapiro and -- -- -- confidence -- big.
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