New stock exchange aimed at deterring highfrequency trading set to launch

TORONTO – A new stock exchange aimed at deterring high-frequency trading strategies will launch and celebrate its first trade today.Royal Bank (TSX:RY) is among the supporters of the new Aequitas Neo Exchange, along with U.K.-based Barclays banking group, Canadian pension fund PSP Investments, telecom BCE Inc. (TSX:BCE) and several brokerages.Named Aequitas after the Latin word for equality and fairness, the new exchange hopes to rival the Toronto Stock Exchange and other markets owned by the TMX Group (TSX:X), which cater to high-volume traders in order to generate revenue.Aequitas has said it plans to use high fees and a time delay to deter high-frequency trading (HFT) strategies, which have been criticized for leaving traditional investors at a disadvantage.These practices have been blamed for inserting artificial volatility into the markets by using superfast computers to engage in activities such as exploratory trading, or making small orders to see if there is interest in a stock.The computers can also engage in up to 5,000 trades per minute, clogging bandwidth and delaying trades by ordinary investors. New stock exchange aimed at deterring high-frequency trading set to launch by The Canadian Press Posted Mar 27, 2015 2:00 am MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email read more

Seven Pakistan nationals sentenced to life in prison by Negombo court

The Police Narcotics Bureau had taken the suspects into custody under the charges of importing, possession and trafficking heroin.The convicts were identified as Andul Kashif, Khan Abbas, Ikram Muhammed, Muhammed Nadeem, Qadir Sahabzada, Shakir Muhammed and Qadir Faiza Ali. Seven Pakistan nationals have been sentenced to life in prison by the Negombo High Court after being found guilty of smuggling heroin into Sri Lanka.Among those sentenced is a female Pakistani national, the Police media unit said today. read more