High-Speed Traders Abandon Microwaves in Korea on Exchange Snub
- Bourse says high-speed technology may violate market fairness
- HFTs could take advantage of time gap on derivatives venue
Terminals of data cables sit inside a comms room at an office in London, U.K., on Friday, Oct. 16, 2015. A group of Russian hackers infiltrated the servers of Dow Jones & Co., owner of the Wall Street Journal and several other news publications, and stole information to trade on before it became public, according to four people familiar with the matter.
Photographer: Chris Ratcliffe/BloombergSouth Korea’s exchange is renewing its push to rid the country of a technology used by high-speed trading firms in the world’s biggest stock markets, arguing that it’s unfair.
Korea Exchange asked brokers in July to disclose whether they’re using microwave networks, said Ko Young Tae, a KRX official in charge of derivatives policy. While Ko suspects the practice has stopped in the wake of an official bourse notice to avoid the technology last year, the exchange is surveying the market to know for certain, he said.