I wonder if all exchanges will move to some less regulated space in future regardles traded instruments locality.. Why exactly DAX has to be traded in frankfurt FTSE in london and SP500 in chicago.. Given the globalisation and good data links.. Why dont we build one universal exchange in nepal one in africa one in russia and one in bahamas... Lets the socialist to make teir own money without free market help Let them go and regulate themselves.. To the total satisfaction
This is very sensible. We'll see how well it works in practice. Algorithmic trading was born out of the technological age. It is a good development. But we should not be blind to its challenges to market integrity<sup>*</sup>. The Germans and Americans may have somewhat different perspectives on issues such as this. Whenever there is a conflict of interests, the Germans may be more inclined to regulate based on what is beneficial to the public sector, whereas we Americans are more likely to regulate, or not, based on what is more beneficial to the private sector. __________________________ <sup>*</sup>It is always a stretch to use the word "integrity" in relation to anything having to do with securities markets.