New York Wants To Limit High Frequency Traders

New York’s attorney general has called for curbs on services provided to high-frequency traders.

In particular Eric Schneiderman highlighted services that allow traders to get faster access to information.

He said traders can make “rapid and often risk-free trades before the rest of the market can react”.

High frequency trading is where firms create sophisticated computer programs to buy and sell stocks in milliseconds, faster than any human.

It has grown in popularity in recent years, but it has also come under scrutiny.

“Rather than curbing the worst threats posed by high-frequency traders, our markets are becoming too focused on catering to them,” said Mr Schneiderman.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza