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A 'technology arms race to the bottom'
The growing disparity between high-frequency traders and their slower counterparts has one industry player mulling speed limits on trades as a possible solution.
EBS, one of the dominant forex market trading platforms, is suggesting putting an end to the principle of "first in, first out" trading, which gives a considerable advantage to those with faster computers and encourages firms to spend inordinate amounts of money on technology. Under EBS's plan, incoming orders would be batched together and dealt with in a random order.
"Speed has little to do with why many participants come to our markets," said EBS chief executive Gil Mandelzis. "These are serious players who come to the market to exchange risk; they do not come to race."
The dark art of the leak
M&A-related leaks are on the decline, explains Andrew Ross Sorkin, and greed may (strangely) be part of the reason why.
Wanted: U.S. veterans
The Blackstone Group has announced a commitment to hire 50,000 U.S. military veterans over the next five years, across its portfolio companies.
(Jody White is the Web Editor for Streetwise.)
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