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The SEC said the difference in speeds between the customized data for some clients and the wider data transmission became magnified on May 6, 2010, when the Dow Jones industrial average plummeted nearly 600 points in five minutes. By then, the exchange had fixed the software problems that had caused the differences in delivery times in about half of the affected computer servers, according to the SEC. But under the stress of the massive trading volume and stock orders, some servers weren't able to get the global data transmissions out as fast as the customized data packages. "Improper early access to market data, even measured in milliseconds, can in today's markets be a real and substantial advantage" that puts individual and long-term investors behind, SEC Enforcement Director Robert Khuzami said in a statement. "That is why SEC rules mandate that exchanges give the public fair access to basic market data," he said.
[Associated
Press;
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