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Algorithmic and high frequency trading in Asia-Pacific, now and the future

Hao Zhou and Petko S. Kalev

Pacific-Basin Finance Journal, 2019, vol. 53, issue C, 186-207

Abstract: The Asia-Pacific securities markets are among the fastest growing markets in the world and account for more than one third of the global market capitalization. Drawing from the literature and recent technological developments worldwide, we discuss the current state and the future developments of computerized trading in a set of the largest Asia-Pacific economies, which constitute approximately 85% of the region's securities market. We first identify the drivers and deterrents of computerized trading based on the academic literature and regulatory investigations. We then assess the current viability and the future growth of computerized trading in the Asia-Pacific economies. Finally, we survey the empirical findings on algorithmic and high frequency trading in the Asia-Pacific region in comparison with the global empirical and theoretical literature.

Keywords: Algorithmic trading; High frequency trading; Market quality; Asia-Pacific region; Transaction cost (search for similar items in EconPapers)
JEL-codes: G12 G14 G19 (search for similar items in EconPapers)
Date: 2019
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