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The Canadian Cherry-picking “Anti-HFT” Payment for Order Flow Kaleidoscope

From blog.themistrading.com

Canada’s TMX Group has just announced some changes to how it intends to operate its stock exchanges, and you should be aware of these changes whether or not you trade in Canada. The fact is, Global markets are connected, national regulatory structures are unique and disparate, and capital flows to environments and countries with the “friendliest structures.” To start with, here is a Reuters article on TMX’s latest change, and here is the official TMX announcement. Background In recent years the TMX Group was bought out by a consortium of investors (Maple) that include Canadian banks, pension funds, and investment ... (full story)

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