Professor Mike Aitken says ‘message taxes’ have not worked well overseas. Picture: Renee Nowytarger Source:The Australian TREASURY has been warned against plans to impose a higher “message tax” on high frequency traders because it will reduce liquidity and increase volatility in the sharemarket. Capital Markets Co-operative Research Centre chief Mike Aitken said regulators should instead
A paper released on Tuesday night by the Capital Markets Co-operative Research Centre, challenges the idea that high-frequency trading (HFT), which is a subset of algorithmic trading, harms market quality. CMCRC, which is an independent academic centre for capital market research, claims a “tax” or “levy” on messages issued by HFT machines is a bad
Professor Michael Aitken has been appointed chief executive of Capital Markets Co-Operative Research Centre following the resignation of Professor Alex Frino. Professor Frino has stepped down to take up a new role as dean of Macquarie Graduate School of Management. He is well known for his research and commentary on high-frequency trading and dark pools
Capital Markets Cooperative Research Centre (CMCRC) has named Professor Michael Aitken as its new CEO, replacing Professor Alex Frino. Frino will take an interim role as an executive of CMCRC until June, when he takes a new role as dean of the Macquarie Graduate School of Management. Meanwhile, CMCRC has announced that Professor David Skellern
Alex Frino has stepped down as CEO of Capital Markets Co-operative Research Centre to take up a new role as Dean of Macquarie Graduate School of Management, and Michael Aitken has moved into the CEO role. Alex is best known for his research and commentary on high-frequency trading and dark pools over the past two
The federal government launched the Financial Markets Research Centre at the Australian Stock Exchange in Sydney on 11 December. The aim is for the FMRC to help position Australia as a financial hub in the ‘Asian century’. An advisory panel from prominent figures in industry will direct the centre to research areas of relevance to the finance industry,
Independent finance research centre launched to boost Australia’s finance sector There are high hopes that more financial sector jobs could be created in Australia as part of a plan to turn the country into a world leading financial centre, a hub in the Asia Pacific region. The launch of the Financial Markets Research Centre (FMRC) at
Lee Porter, a Hong Kong-based professional in the financial services industry, was in New York when the so-called flash crash by the Dow Jones Industrial Average (DJIA) happened on May 6, 2010. Like many traders and investors on Wall Street and elsewhere that day, he was befuddled by the index’s swift 9% plunge and equally
New market integrity rules issued by the Australian Securities and Investments Commission (ASIC) in response to growing use of automated trading and dark liquidity will improve overall safety, but at a cost to some market participants. The rules will be phased in over the next 18 months and include kill switches and extreme trading rules