IMC desk shutdown points to cost pressure
Stamp duty is seen as prohibitively expensive for high-frequency traders after IMC shuts its Hong Kong trading desk and makes two-thirds of its HK staff redundant.
The closure of IMC’s Hong Kong trading desk late last month has highlighted the cost pressures faced by high-frequency trading firms. The company is following an emerging trend of moving to a model in which one office serves multiple markets across one time-zone.
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