February 21, 2018 / 10:07 AM / 3 months ago

About 70 HFT traders to be registered in Japan- JPX

TOKYO, Feb 21 (Reuters) - About 70 firms are expected to be registered as high frequency traders (HFTs) in Japan, the Japan Exchange Group (JPX) said on Wednesday, ahead of the start of new regulations in April that require HFTs to register with the government.

Japan has introduced the requirement as trading by HFTs comes under scrutiny globally as a potential source of flash crashes and other sharp, volatile moves in financial markets.

Trading by HFTs, which use ultra-fast computers to automatically place orders, accounts for some 70 percent of all trading on the Tokyo bourse.

“It’s a global trend as the United States and Europe are also moving towards the same direction,” said the JPX’s Goup CEO Akira Kiyota.

“HFTs also act as market makers. If their trading becomes more transparent, they will no longer be accused falsely. It’s a good thing for them, too.” (Reporting By Tomo Uetake; Editing by Kim Coghill)

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