IntercontinentalExchange precious metals desk to test 3ms delay, Bloomberg saysCiting its filing with the CFTC, Bloomberg's Nick Baker reports that Intercontinental Exchange futures markets dealing in gold and silver will test a 3-millisecond trading delay in a bid to reduce high frequency traders from "picking off stale quotes" in the exchange order book. The report notes that the exchange currently does very little business in gold and silver, though its spokesperson denied to say whether a similar delay could be applied to other markets. |