FCA paper investigates whether HFTs predict orders

Financial Conduct Authority
Paper finds over long time periods there are patterns consistent with HFTs anticipating the order flow of non HFTs

Patterns showing high-frequency traders (HFTs) are anticipating order flows are only evident over longer time periods, according to a paper published by the Financial Conduct Authority.

In Are high-frequency traders anticipating the order flow? Cross-venue evidence from the UK market, Matteo Aquilina and Carla Ysusi investigate the allegation high-frequency traders can "predict" when orders are going to arrive at different trading venues and trade in advance of slower trades.

Using order-book

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.