SEC's Schapiro: Flash Crash Reforms are Coming

U.S. securities regulators are still mulling over numerous possible reforms to market structure in the wake of the May 6 flash crash, Securities and Exchange Commission Chairman Mary Schapiro said Friday.

Schapiro said the agency is looking at a variety of areas, from new market-making obligations for high-frequency traders to new limit up/limit down trading parameters.

"We are examining trading or other obligations that might be required of today's de facto market makers: the high-frequency traders," said Schapiro during remarks at SEC Speaks, a conference hosted by the Practising Law Institute.

"We are asking if these firms should be subject to an appropriate regulatory structure, including with respect to their quoting and trading activities."