Today Professor Hal S. Scott submitted a letter to Senators Mark Warner and Mike Johanns, Chair and Ranking Member, respectively, of the Subcommittee on Securities, Insurance, and Investment of the US Senate Committee on Banking, Housing, and Urban Affairs. In that letter Prof. Scott addressed two critical points that were raised during his June 18, 2014 testimony before that same subcommittee, regarding intraday volatility and “fixed” markets.

The letter is available here.