Electronic trading is getting a boost from the take-up of integrated platforms used for cross-asset transactions, which have soared in popularity in the past year or so.
New e-trading rules start in Hong Kong, SFC cuts lapse time for approvals, Tiger Asia case ends, US derivatives regulator approves SGX and CFTC allows local compliance.
They argue that incoming regulations governing the monitoring of algorithmic trading are often counterintuitive and leave them potentially liable for unforeseeable trading risks.
Asian investors are increasingly using single-dealer e-trading platforms that they say offer anonymity and spread improvement, rather like dark pools for equities.
Asian fund houses might need to pay fewer brokers for more sales trading amid smaller commission payments if trading volumes do not rebound.
Although Credit Suisse was voted by buy-side traders to be best for electronic trading, the field is far more competitive now.
As the buy-side shifts to electronic trading for low-touch orders, banks' program trading desks are redefining themselves to assume more of a hand-holding role.
The trade body would be the first dedicated to electronic trading issues in the territory and would provide true cross-industry representation, says veteran trader Philip York.
Sebi has streamlined rules on algo connectivity, but whether this brings about improved execution in India is open to debate as smaller players oppose greater usage.
Why do some firms automate processing of Asian equities but not fixed income?
A proposed exemption on users of proprietary trading systems (PTS) from a mandatory takeover rule is expected to drive market fragmentation.
Stamp duty is seen as prohibitively expensive for high-frequency traders after IMC shuts its Hong Kong trading desk and makes two-thirds of its HK staff redundant.
Asia buy-side traders are moving away from volume-weighted average price as an algo benchmark to better align interests with portfolio managers.
Exchanges and governments are largely to blame, with Hong Kong a particular culprit and a profit margin that leaves Apple in the dust.
Australia's move to charge HFT participants based on the number of messages they send to the exchange is self-defeating, but may be copied, warns Deutsche Bank.
The head of Hong Kong’s securities regulator says it is processing dark pool applications again after a hiatus amid concerns about retail investor protection.
An upgrade and new data centre for hosting services may spark interest in algorithmic trading strategies on Hong Kong stocks, as latency is reduced to below two milliseconds.
The advent of electronic trading has thrown commission arrangements into disarray.
Buy- and sell-side executives agree high-frequency trading has become a fact of life in Asia and will permeate into fixed income.
Glenn Lesko, Instinet’s Asia CEO, expects to see more dark pools set up in Asia – by large regional banks, among others – and hence more tie-ups such as this one.