Asia-Pacific stocks have seen sudden sharp price drops during the recent turmoil due to inappropriate use of trading algorithms, says John Tompkins of Senrigan Capital.
Research from the US-based dark pool provider shows a marked improvement in the performance of certain brokers' algorithms, following big investments in e-trading systems in Asia.
Takayuki Saito adds to the US bank's list of big hires in electronic trading, with a remit to expand the business under the Morgan Stanley MUFG Securities joint venture.