Turkish Exchange Goes Algo-Friendly

Operators of the Istanbul Stock Exchange today launched a trading rule change that officials say will encourage more algorithmic trading on the exchange.

The new rule allows unconditional order cancellation, according to exchange officials. Previously, cancellations required intermediation by the local exchange brokers on behalf of their clients.

Now, orders pending in the exchange's Stock Market Trading System may be canceled one-by-one, in full or in part on an order-by-order basis. However, the

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