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SOURCE Wyatt Investment Research
RICHMOND, Vt., May 8, 2014 /PRNewswire/ -- Wyatt Investment Research is circulating a petition asking Attorney General Eric Holder to end high frequency trading.
"We represent a coalition of individual investors who are deeply concerned about the state of the financial markets in the United States," said Ian Wyatt, president and publisher of the Vermont-based investment research company.
To sign our petition to Stop High Frequency Trading, click here now.
"We believe that High Frequency Trading is an illegal activity that gives certain stock market participants an unfair advantage. There is clear and convincing evidence that trading firms, Wall Street banks, stock exchanges, and online brokerage firms all profit from High Frequency Trading."
In its most simple form, High Frequency Trading allows a select group of traders advance notice of market activity by investors. This allows these traders to buy or sell securities quickly to front-run the order of the actual investor. By doing so, High Frequency Traders generate estimated profits of more than $20 billion per year.
According to Wyatt, it's the individual investor who suffers the largest financial losses as a result of High Frequency Trading in the stock market today.
"I believe that individual investors deserve a free and fair stock market that's unencumbered by high frequency traders who receive special access by the stock exchanges. That's not something that they've ever had before...but it's something that we must strive to achieve."
The company is requesting that the Department of Justice take swift and decisive action to put an end to High Frequency Trading. According to Wyatt, the Securities and Exchange Commission has turned a blind eye to this predatory trading practice that steals from investors and lines the pockets of Wall Street banks.
Wyatt also commended Michael Lewis, the author of the best-selling "Flash Boys," for pulling back the curtain on high frequency trading. "Until early March, most investors didn't know anything about this latest Wall Street scam. By exposing the issue of predatory trading, Lewis has brought this important issue to light. Whether you're invested in a 401(k), own the biggest mutual funds in the world, invest in dividend stocks, or trade the market...you're being ripped off. That's because with nearly every investment you make, high frequency traders are front-running your orders."
Click here to learn more about Wyatt Investment Research.
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