Research can help BoE keep pace with automation – Salmon
The Bank of England’s executive director for markets has said enlisting the help of academics would help the central bank keep pace with the regulation of faster markets.
“There is enormous potential for varied and interesting research in the area of fast markets… and here we need help from the academic community,” Chris Salmon said today (October 6) in a speech assessing the impact of greater automation of trading on financial markets.
In his analysis, Salmon noted the introduction of “new technology-focused, smaller, non-bank market participants” has markedly increased the pace at which markets operate over the past few years.
These firms, he said, use specialised algorithms to execute and route orders at high speed. But with increased speed comes increased risk, and for the BoE to keep up research is key.
“As markets evolve no doubt new topics and questions will present themselves. I encourage those of you with an interest in this area to keep running with it; your input is of great value to us,” Salmon said.
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