Planned algo rules are impractical, says buyside

Buy-side traders in Hong Kong say planned new rules on the use of electronic trading systems and algorithms are impractical and over-burdensome and would lead firms to outsource certain risk controls and monitoring functions to brokers. Some fund managers have argued they should not be as heavily regulated as brokers with regard to e-trading, saying they present less risk to financial markets because their executing brokers are already subject to a slew of pre-trade control and po…