A group of market experts are working to develop a system to protect mutual fund managers from high frequency traders, the Wall Street Journal reports
. The group is called IEX Group Inc.
IEX is currently scheduled to launch in 2013.
, formerly the head of electronic banking at the Royal Bank of Canada, said building a trading platform which does not allow high-frequency traders would allow fund managers to do their jobs without speedy buys and sells drastically affecting the market.
senior trader Michael Buek
, who said that the new platform would need to bring in a substantial amount of flow to make using it worthwhile.
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