William O’Brien, chief executive of Direct Edge, said: “If these types of programs are banned, it will drive liquidity away from exchanges and perpetuate a two-tier market.”However doubts about the value of high-frequency firms have emerged at the London Stock Exchange, which this month abandoned similar rebates amid concern that it was alienating its biggest customers, the large banks that channel orders from so-called buy-side asset managers and pension funds.
No comments:
Post a Comment