Electronic trading

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.

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.

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.

Although Credit Suisse was voted by buy-side traders to be best for electronic trading, the field is far more competitive now.

Why do some firms automate processing of Asian equities but not fixed income?

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.

Buy- and sell-side executives agree high-frequency trading has become a fact of life in Asia and will permeate into fixed income.

The advent of electronic trading has thrown commission arrangements into disarray.