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ICAP tightens high-speed trading rules on FX platform
Electronic inter-dealer broker ICAP has published new guidelines for its EBS foreign exchange trading platform that will limit the ability of high speed computer algorithms to outwit the rest of the market, traders said on Tuesday. The new dealing rules, sent to all EBS clients, contain a new artificial intelligence (Ai) policy section aimed at preventing high-frequency traders from distorting genuine price discovery in the currency market. HFT players and computer algorithms can slow down price discovery for other market participants by using their speed advantage to produce multiple quotes across trading platforms ... (full story)
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