High-Speed Trades Make Up Fifth of Canada Market

Canadian Press

Today in Reuters Jennifer Kwan writes that high-frequency trading, using lightning-fast algorithms to turn profits, represents a fifth of all activity on the Toronto Stock Exchange and other Canadian trading systems, according to data released by regulators.

Such trades, based on a strategy that floods the system with buy and sell orders without executing all of them, make up 11 percent of the overall Canadian market, preliminary data from the Investment Industry Regulatory Organization of Canada showed on Tuesday.

High-frequency trades account for 22 percent of share on a volume basis and 32 percent of the value traded, says IIROC, which studied trading patterns between August and October 2011. The trades represent 42 percent of the total number of trades executed on all Canadian trading systems.

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