Leading Fund Managers Calling for Greater Regulation to Crack down on High Frequency Trading

Crack down on high frequency trading: fund managers

Mary Schapiro, SEC

Leading fund managers are calling for greater regulation of high frequency trading which they warn is resulting in market manipulation and insider trading at the expense of retail shareholders.

Perpetual Investments said yesterday it would join Schroders Australia and Antares Capital in questioning major stockbrokers about the way high speed traders were conducted and the risk systems in place.

Matt Williams, head of Australian equities at Perpetual, welcomed an investigation by the corporate regulator this week of the impact on the market of high frequency trading but said it did not go far enough.

“Whilst the impact on volatility and avoiding a flash crash/Knight Capital scenario is important, to us the bigger issues are around market integrity,” Mr Williams told The Australian Financial Review.

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