GSA Complains About High-Frequency Currency Penalty

images (2)Hedge fund GSA Capital Partners is none too pleased with acurrency-trading platform it uses.

The London-based firm has stopped posting passive orders on Thomson Reuters’ Reuters Matching platform, protesting what it said was a slap on the wrist for another user of the system. The skirmish boils down to another battle over high-frequency trading; GSA and other currency traders worry that high-frequency users are abusing the platform, and the hedge fund lays the blame squarely at Thomson Reuters’ feet.

At issue is Thomson Reuters’ brief suspension of Lucid Markets late last year. Lucid used multiple servers to get trading data ahead of competitors, which is against the rules, according to Thomson Reuters. Lucid said it broke no rules.

Either way, GSA isn’t happy. “Thomson Reuters’s failure to sanction the offender publicly has damaged confidence in the platform and in Thomson Reuters’s ability to provide a level playing field for all participants,” GSA said

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