As recently reported by Automatedtrader.com, with below excerpt from Sept 21 New York Post, this is not the first we’ve heard about Wall Street whistle-blower Haim Bodek; its an update to claims of conflict he brought to the SEC and other regulators last year in connection with NYSE’s electronic order handling procedures that favor high-frequency trading (HFT) strategies wrapped within the NYSE payment-for-order flow schemes. Until now, Bodek’s allegations have gone unanswered, so he is apparently increasing the volume.
Now managing principal of Decimus Capital Markets, Bodek is a former Goldman Sachs and UBS trader-turned-high-profile-mole last week launched a fusillade at the already battered New York Stock Exchange, saying the exchange’s latest gamble on high-speed reforms should be stopped.
Bodek last went this ballistic back in 2011, when he went directly to the Securities and Exchange Commission to accuse exchanges of giving turbo-charged electronic traders an unfair edge over the little guy.
Bodek, 43, of Stamford, Conn., had run a high-speed-trading firm after his Goldman and UBS gigs. The SEC is said to be quietly probing his charges, but declined to comment.