BaFin Moves Highlight EU HFT Regulatory Discrepancies

Christian Voigt, Fidessa

Under the German High-Frequency Trading Act, BaFin has the right to grant an exemption from HFT requirements to some trading firms wanting to passport into Germany if those firms are subject to an equivalent regulation within the European Economic Area (EEA). However, some firms registered locally with the UK’s Financial Conduct Authority (FCA), could see their exemption revoked because of divergence in capital requirements.

"What BaFin has determined is that because some HFT firms, like the UK

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