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The Trading Mesh

August 2012

The ASIC Consultation Paper

August 24, 2012 Comments (0)           

By David Jenkins
ASIC has been alluding to tighter controls on automated trading and direct electronic access for some time, in keeping with initiatives from other global regulators looking to reduce the likelihood of future flash crashes or rogue algorithms. The key points are the requirement for cross-market, cross-asset credit checks, client-level kill switches and full visibility for the market participant of the sponsored client’s market-making activity.Most of the proposals, such...

Beanz Meanz MiFID

August 10, 2012 Comments (0)           

 
Imagine I ask you to go to the shops and buy me something simple – let’s say 5 tins of beans. You go to the local shops, return with the goods and I pay you for them, together with a tip to compensate you for your efforts. If you do a good job in terms of price and getting all 5 tins quickly, then I might well ask you to do my shopping on a regular basis. But if I discover that you did a poor job and paid over the odds, I won’t ask you again and I’ll suggest to...