Chancellor Angela Merkel’s Cabinet will vote on a bill
tomorrow that limits high-frequency trading even for market participants
outside Germany and requires automated orders to be marked as such, a
government official told Bloomberg.
High-frequency traders will have to seek authorization and
will be supervised under the legislation proposal, the official told reporters
in Berlin today on condition of anonymity because the bill has not yet been
published. High-frequency trade will be curbed and market abuse will be
punished, he said in Berlin.
Own-account high-frequency traders such as hedge funds,
which don’t need authorization at present, will be covered by the new
legislation, the official said. That would affect market participants borrowing
access to electronic trading systems from others….
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