Has program trading been tamed? The practice, which many investors suspect of contributing to last October's crash, has at least simmered down. In the first of a series of monthly program-trading reports, the New York Stock Exchange said last week that such transactions during July amounted to only 10.1% of the Big Board's volume. That percentage has declined from a level of 15% to 20% a year ago, according to some estimates.
Since the crash, many legislators have urged a clampdown on program trading, in which large blocks of stocks and futures contracts are simultaneously traded to reap a quick profit...
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