Regulatory Roadmap - What Next?
First Published 11th March 2010
Concerns over systemic risk and fairness are high on the regulatory agenda, with dark liquidity, co-location, naked access and seemingly the entire market structure now squarely under the microscope. Martin Cornish and Lance Zinman of specialist law firm Katten Muchin Rosenman Cornish LLP outline where regulation may be headed.
High frequency trading presents something of a conundrum for regulators. The HFT community contributes more than half of the liquidity in some markets. On the other hand, regulators see many of the trading practices used by the high frequency and wider proprietary trading community as crossing that rather blurry line between 'competitive advantage' and 'unfair'. And 'Fair' is the new mantra. So what next?
Automated Trader talk to Martin Cornish and Lance Zinman of speciali