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Big Asset Managers Fight Rising HFT Cancel Orders

July 13, 2010

Large asset managers want regulators to clamp down on the high rate of cancel-and-replace orders originating from high frequency trading firms.

Large asset managers such as mutual funds and some hedge funds are meeting with legislators and lobbyists in the U.S. to discuss ways to clamp down on the high rate of cancel-and-replace orders originating from high frequency trading firms. “The rhetoric has picked up,” says the head of one bulge-bracket prime broker, who says that banks are also reevaluating their pro-HFT stance.

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