Registered: Feb 2005
02-13-13 03:42 PM
Quote from zdreg:
Regulations in the U.S. and U.K. prohibit traders from placing orders they don't intend to complete. Mr. Beck, in appealing the FSA fine, said regulators could have no way of knowing that his traders didn't intend to complete the layering orders they placed. Speaking to the Journal, Mr. Beck acknowledged that Swift traders engaged in this activity but he said the orders could, in fact, have been filled, and that made them legitimate....
I do not trade equities, so may be my questions is plain dumb. But all HTF algos do just that, millions of cancelled orders. What;s the difference between them and swift???