A new IIROC report is looking to provide a better understanding of high-frequency trading and its role in the market
High order-to-trade traders are responsible for a high number of orders, compared to the number of trades they actually complete
Unfiltered access will be prohibited
Regulators should step slowly and consult with industry, says Russell
Proposed IIROC definition is too broad, says Kloet
High-frequency trading limits the frequency and severity of end-of-day price manipulation, paper says
Draft guidance stresses that tactics such as layering, quote stuffing, quote manipulation, among other, are market manipulation
Though few in numbers, these traders are responsible for 29% of the total value of common stocks traded and a remarkable 60% of all ETFs and ETNs traded
The SRO is studying HFT and its impact on liquidity, price formation, stability, volatility and overall confidence