10 jul: Williams Partners, Others To Invest $800 Million in Utica Shale V..
10 jul: US Stocks Tumble Amid Signals Slow Growth Will Weigh on Earnings
10-07-2012 23:15:00

EBS Begins Steps To Remove 'Disruptive' Traders

Relateret indhold

New trading rules implemented Tuesday by electronic foreign-exchange trading platform EBS are just the first step toward booting "disruptive" traders from its market, Chief Executive Gil Mandelzis said Tuesday.

Earlier Tuesday, the ICAP-owned (IAP.LN) platform outlined new rules requiring users to complete a certain proportion of their trades--a key push back against methods used by some high-speed trading accounts that have grated banks that make up a large portion of EBS volumes.

"We have had some concerns about disruptive actions in the markets, and we felt we wanted to make an unequivocal statement," Mandelzis told reporters at a briefing Tuesday. "We don't want to provide a market whereby being super fast gives you an advantage."

Following the rule changes announced Tuesday, EBS is planning to update its trading system, which could include a decision to drop the fifth decimal place in currency quotes, as well as minimum time requirements for holding a particular currency pair. The firm plans to send an initial list of the proposed changes to its clients by the end of this month and hopes to have the measures in place by late August or early September, Mr. Mandelzis said.

The firm also is looking at ways to enhance surveillance and enforcement, he said, with those measures likely sometime next year.

The update to its protocols comes as the first overhaul since 2008 for EBS. Mr. Mandelzis's comments come less than a year after he was named chief executive in a senior management shakeup that came amid flagging volumes.

In the overhaul, Mr. Mandelzis said he isn't looking to ban certain funds from the firm's trading system, nor the growing business of electronic traders. Instead, he is looking to force out strategies that attempt to move the prices of securities in a predatory way, or only make money by being first on a specific trade.

The move to counteract these type of traders is in stark contrast to some stock exchanges that had embraced a growing industry of firms that look to buy and sell securities in microseconds, or fractions of a second.

"High-frequency behaviors are also employed by some banks, while others on the buy side have standard buying and selling. We are aligning ourselves with genuine liquidity to prevent disruptive behavior. We are not for or against any type of entity," said Mr. Mandelzis, who said he hopes these and other measures will ensure there won't be a "flash crash" in foreign-exchange trading.

EBS also faces heightened competition from Thomson Reuters Corp. (TRI, TRI.T). The EBS rival earlier this week announced plans to buy electronic currencies trading platform FX Alliance Inc. (FX) for $616 million, cranking up competition in the electronic currencies dealing space and suggesting the data provider is striving to get a bigger slice of the $4 trillion-a-day global currencies business.

Mr. Mandelzis said "it is not evident there will be any material effect on our business" from the FXall deal.

-Eva Szalay contributed to this article.

Write to Geoffrey Rogow at geoffrey.rogow@dowjones.com

(END) Dow Jones Newswires

July 10, 2012 17:15 ET (21:15 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
Ingen indlæg

Fondsbørsmeddelelser

Maersk Line-chef tager på charmeoffensiv i Kina

19-09-2014 15:47:03
Den administrerende direktør for Maersk Line, Søren Skou, har besøgt de kinesiske myndigheder i et forsøg på at skaffe opbakning til en ny shipping-alliance med..

Novo/Sydbank: Novo sidder tungt på diabetes-tronen

19-09-2014 12:17:21
Sydbank fastholder sin anbefaling af Novo Nordisk-aktien til trods for, at den amerikanske lægemiddelstyrelse, FDA, torsdag aften har godkendt Novo-konkurrenten..

Novo: Nygodkendt diabetesmiddel giver lynhurtigt effekt

19-09-2014 11:31:02
Novo Nordisks nye kombinationspræparat til behandling af type 2 diabetes, Xultophy, yder allerede efter fire uger en betydelig blodsukkerkontrol.Det fremgår af ..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge

Relaterede aktiekurser

Icap PLC Ord 10p 392,30 1,9% Stigning i aktiekurs
Thomson Reuters Corp 37,00 -0,6% Fald i aktiekurs

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen

Relaterede selskaber
Få adgang til information og anbefalinger af relaterede selskaber med PLUS pakken.

Du får adgang til 7 værdifulde investorværktøjer til investering.

Klik her og læs mere om PLUS pakken.
Euroinvestor i andre lande: Euroinvestor.com | Euroinvestor.se | Euroinvestor.no | Euroinvestor.fr | Forexinvestor.com| Wisselkoersen.nl | Valuta.se | Valutaveksel.no | Divisas.es | Valute.it
Copyright Euroinvestor A/S 2014  Disclaimer Privatlivspolitik
Aktieinformation leveres af Interactive Data.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
22. september 2014 02:11:11
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20140919.1 - EUROWEB4 - 2014-09-22 02:11:11 - 2014-09-22 02:11:11 - 1 - Website: OKAY

Når du besøger Euroinvestor.dk accepterer du, at der anvendes cookies, som vi og vores samarbejdspartnere benytter til funktionalitet, statistik og markedsføring. Læs mere om cookies på Euroinvestor.dk her

x