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IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets, today announced the first full year impact of its high frequency trader (HFT) messaging policy.
"HFTs are an essential source of liquidity in our markets and often provide price discovery where other traders may be reluctant to do so," said Chuck Vice, ICE President and COO. "These traders represent the natural evolution of the long-standing market-making role as trading overwhelmingly shifted to electronic venues in the last two decades. ICE believes that it is incumbent upon exchanges to adopt rules and design controls that effectively address the existence of high frequency trading within the context of market structure."
