The securities regulator proposes 25 new rules to crack down on algorithmic trading to prevent a repeat of this summer’s market meltdown.
Reductions in tick sizes may be prompting high-frequency traders to move to the sidelines to re-assess their strategies, says Yasuaki Sumimoto, head trader at Mitsubishi UFJ Asset Management.
The firm narrowly escaped a heavy fine because the share price movements in question occurred before new electronic trading rules took effect in January.
The US bank has hired a batch of senior traders and sales traders from rivals, notably Credit Suisse, in a drive to integrate execution for long-only and hedge fund investors.
Traders and brokers have set aside competing commercial interests to develop a due diligence checklist to comply with Hong Kong's incoming regulatory regime for e-trading.
Agency broker ITG has been rolling out its FX transaction cost analysis product for Asia, developed with Eastspring as its primary beta client.