Fear 'unfair' fees on HFTs will crimp innovation

Concerns have been raised that Asian stock exchanges are set to follow Australia's example by imposing market surveillance charges on high frequency traders, a pseudo tax that could hamper innovation and competition. Jessica Morrison, head of Asia-Pacific market structure at Deutsche Bank, told a forum in Hong Kong this week that the so-called fee-recovery model of the Australian Securities and Investments Commission (Asic) was self-defeating. Asic has declared that market super…