Hong Kong’s stock market must adapt to the growth of high-frequency trading and “dark pools”, the territory’s securities watchdog said, hinting that the local exchange may face challenges to its dominance in share trading.
The comments, by Ashley Alder, chief executive of the Securities and Futures Commission (SFC), highlight how the rapid advance of alternative trading systems in the US and Europe – which rattled incumbent exchanges – is starting to encroach on some key Asian markets.
In Japan and Australia, exchanges have been forced to upgrade their trading systems and introduce special services to attract high-frequency traders.
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