Biggest Wealth Fund Ready to Battle ‘Flash Boys’ in Asia


Norges Bank CIO Oeyvind SchankeOeyvind Schanke, Chief Investment Officer of Norges Bank Investment Management. Source: Norges Bank Investment Management via Bloomberg

Norway’s $890 billion fund, which considers high-frequency trading a scourge in global financial markets, is taking steps to avoid the practice as it spreads in Asia.

The fund, which owns about 1.3 percent of the world’s equities, has already started to cut back on its use of algorithmic trading to dodge HFT traders who might be trying to pre-empt its moves in the U.S.

HFT “is now gaining some momentum in Asia — we’re definitely following it and we have to do a lot of work on the individual markets,” said Oeyvind Schanke, head of asset strategies at the fund. “The whole specter of trading venues has been catering to high-frequency trading activity, whereas we would like it to focus more toward the institutional need.”…

Biggest Wealth Fund Ready to Battle ‘Flash Boys’ in Asia

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