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一些人担心现行的市场监管体系与流动性激励机制使金融市场偏向于支持算法和高频交易,因此应该增加额外的监管以平衡竞争环境。但这种方式可能事与愿违,因为这可能会促使市场参与者隐匿高频交易的失误。反之,应追求一种合作方案,即公司可在私下向中立的第三方汇报人为的或自动化错误,然后第三方将这些事件匿名化,汇总分析并公开,从而确认其模式,有助于避免大规模的市场秩序失灵。
Some people worry that the current market regulatory system and liquidity incentives make the financial markets more biased in favor of algorithms and high-frequency trading, so additional regulation should be added to balance the competitive environment. But this approach may be counterproductive, because it may prompt market participants to conceal the mistakes of high-frequency trading. Instead, pursue a collaborative approach whereby companies report private or automated errors privately to neutral third parties who then anonymize them, summarize them and make them publicly available to help them avoid big Large-scale market order fails.