Canada saved yesterday because . . . . well, we're a primitive backwater apparently.
. . . . . . the fact that high frequency trading, which uses sophisticated computer algorithms to automate transactions at speeds in the millionths of a second, makes up a far smaller share of Canada's overall market volume than it does in the United States, was probably a reason for the slower slide.
"It certainly is a concern and is going to require the regulators down there to really look at how vulnerable the market is to one client segment running black box trading strategies," said Greg Mills, managing director of global equity sales and trading at RBC Capital Markets.
High frequency trading accounts for an estimated two-thirds of U.S. equity volume, and 20-30% of Canadian volume.
Read more: http://www.financialpost.com/news-sectors/story.html?id=2999751#ixzz0nHWBsm5x
Cowperson
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