Naked Exposure: Getting the Full Picture
"The SEC has identified a significant risk in the way naked sponsored access operates today, and its comment letter strongly suggests that naked sponsored access will likely be banned," says Dariush Nazem, vice-president, low latency product development, at Goldman Sachs execution and clearing.
Bank of America Merrill Lynch (BAML) sees it pretty much as Goldman Sachs does-that naked sponsored access is, for all intents and purposes, on borrowed time, at least in its present guise. "Given the
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