India moves closer to best execution
The Bombay Stock Exchange expects India’s first multi-exchange algorithm will launch within two months and it is about to introduce guidelines on smart order routing.
India is some way behind Asian markets such as Hong Kong and Japan on algorithmic trading, but the size and liquidity of the market there is “starting to get interesting”, says Jim Shapiro, head of market development at the Bombay Stock Exchange (BSE).
Speaking at the Trading Architecture conference in Hong Kong last week, Shapiro said the main regulator for this area – the Securities and Exchange Board of India (Sebi) – has been quite progressive in its approach. Despite the 'flash c…
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