Randomisation allows smaller players to compete

Larry Harris says randomisation will make markets more competitive

numbers-random

Randomisation makes it significantly easier for smaller players to compete in liquidity provision and it will lead to more competition while removing the incentive to focus solely on speed, says Larry Harris, a former chief economist of the Securities and Exchange Commission and now professor of finance at the USC Marshall School of Business in California.

Harris has been a long-term advocate of small, 1–10 millisecond, randomised pauses in the fight against harmful high-frequency trading (HFT)

To continue reading...

You need to sign in to use this feature. If you don’t have a FX Week 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 indvidual account here: