Major exchanges seek to dismiss high-frequency trading lawsuit

Major U.S. stock exchanges have asked a federal judge to dismiss a lawsuit accusing them of costing ordinary investors billions of dollars by rigging markets to benefit high-frequency traders. Exchanges including Nasdaq, Intercontinental Exchange Inc’s New York Stock Exchange, Bats Global Markets and CHX Holdings Inc’s Chicago Stock Exchange said they deserve “absolute immunity” because they regulate themselves, and that only the U.S. Securities and Exchange Commission could review the plaintiffs’ claims. More on Reuters here.