High-frequency trading – a discussion of relevant issues - Xetra
High-frequency trading – a discussion of relevant issues - Xetra
High-frequency trading – a discussion of relevant issues - Xetra
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<strong>High</strong>-<strong>frequency</strong> <strong>trading</strong> <strong>–</strong> a <strong>discussion</strong> <strong>of</strong> <strong>relevant</strong> <strong>issues</strong> May 2013… part <strong>of</strong> the reduced cost results from decreasing marketinfrastructure fees• Reduction in the costs <strong>of</strong> <strong>trading</strong>in all major financial centers(weighted average decrease <strong>of</strong>21%).• The cost <strong>of</strong> <strong>trading</strong> correspondsto the sum <strong>of</strong> fees charged by:<strong>–</strong> Trading platforms<strong>–</strong> Central counter-parties(CCP’s)<strong>–</strong> Central SecuritiesDepositories (CSD’s)Source: Monitoring prices, costs and volumes <strong>of</strong> <strong>trading</strong> and post-<strong>trading</strong> services by Oxera, May 2011.14