16 Jun 2014


HFT Act: Changes to “Order to Trade Ratio” (OTR)

The Order to Trade Ratio (OTR) was introduced on 1 December 2013. This circular provides information on the following changes related to the OTR:

1. Extension of the definition of quote performance

2. Change in the OTR calculation methodology

These changes will become effective on 1 August 2014.

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