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Japan govt panel to review market impact of high-speed trading

Friday, April 8, 2016 - 12:45

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Japanese Finance Minister Taro Aso on Friday said a new government panel will look at the impact of high-speed trading on local financial markets.

[TOKYO] Japanese Finance Minister Taro Aso on Friday said a new government panel will look at the impact of high-speed trading on local financial markets.

The panel, which will also include members from the private-sector, aims to look at developments in FinTech as part of an effort to boost competition in Tokyo markets, Mr Aso told reporters after a cabinet meeting.

Mr Aso said there are some concerns that high-speed trading"may be one of the factors contributing to recent market volatility".

He said "it is important to review the impact of high-speed trading upon the efficiency, transparency and stability of the markets." Mr Aso also referred to concerns that high-speed trading may have a negative impact on long-term market value of listed companies and distort price formation in the markets.

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A general assembly of the Financial System Council, an advisory panel of the prime minister, will be convened in early April to have experts deliberate on these issues and recommend necessary measures.

REUTERS

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