The Fifth Decimal Point

27

June, 2012

As we in the US equity markets wait for real fixes to our broken market, other asset classes and other countries are starting to make strides to combat high frequency trading and some of its damaging effects.  We would like to point out two examples of some changes that others are making:

1) The Foreign Exchange market – currently, most electronic currency trading platforms allow trading with up to 5 decimal points.  EBS, owned by ICAP, is an electronic inter-dealer currencies-trading platform.  According to the WSJ , since they switched

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