DBIS has published the results of research into the effects of computer trading in financial markets. The research considers a number of policy measures under debate for MiFID 2, and its main conclusions include:
- general support for the use of circuit breakers;
- support for a coherent tick size policy across similar markets;
- less support for policies imposing market-maker obligations;
- concerns over the introduction of minimum resting times; and
- uncertainty over the effectiveness of proposed measures to require notification of algorithms or minimum order-to-execution ratios.