Last year I wagered that our regulators would issue a tobin tax on cancelled trades as an offering ; in 2013 I believe we shall see a slight return to named trades and an end to anonimity !
"dark pools " have increased their market share and with members both willing and wanting to know their counter parties we have seen increased volume and liquidity . Exchanges have been very slow to react and still believe that ATS and HFT offer the best service ; sadly their false liquidity and scalping methods have made retail traders use alternative trading venues .
The good news for the regulators is that through named trading "market abuse " through layering ; crossing ; front running and dual clearing is far easier to monitor and cheaper to police . regulators will be able to fine and suspend immediately rather than wait the normal 18 months to issue and publish penalities .
Finally Im not to sure whee this leaves our ATS and HFT who thrive off scalping and preying off real orders ?