Upgrades to the Tokyo Stock Exchange and a more conducive regulatory environment have enabled Japan to take the lead as a venue for high-frequency trading in Asia, according to leading industry professionals. A new study conducted by Tora, a Japan-based provider of trading technology services, aimed to perform transaction performance analysis that measured in basis points the “slippage” between the intended price of a trade and the actual result. The survey, released on August 24 and conducted over the first six months of 2010, found that the average slippage among 120,000 algorithm orders was 15.1bp
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