He only touched on it briefly but here's what I wrote:- ASIC is...

He only touched on it briefly but here's what I wrote:

- ASIC is confronting a trading monster due to bots, high frequency trading with computer programs meaning that transactions happen before people can do anything about it, and ASIC is concerned about it.
- while others say it will flatten out some extreme variations in the market place
- When combined with other developments on the market it is of concern, high frequency trades, these days if you want to be successful broker you have to be maths or engineer to be able to create and understand algorithms
- Dark pools: trading happens outside of the disclosure regime of stock exchange, combined with high frequency trading, share transactions can take place outside of stock exchange, and have been legitimised so that large firms that have internal dark pools can buy and sell shares on behalf of clients before anybody even finds out the transactions have taken place
- ASIC is worried about this. In US there are 20 dark pools with over 100 internal dark pools in most major offices. Disclosure regime is being overtaken by developments in technology and regulators are trying to catch up

Interesting stuff that we pretty much knew already. Frustrating also. I'm thinking of taking an elective called 'regulation of securities markets' but I might get too passionate!