A few milliseconds is a great advantage
MiFID II, FINRA, CAT NSM, SEC Rule 613, ESMA and MiFIR regulations in Europe and the US have introduced much closer regulation and monitoring of algorithmic trading. Imposing new and detailed requirements on algorithmic traders and the trading venues on which they trade.
Firms that previously took advantage of exemptions of MiFID must now become authorised to continue to trade using a HFT technique.
The new requirements state that firms using a HFT technique must record timestamps of all 'trading events' for at least five years with:
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