Japan's financial watchdog has started examining high-frequency trading, algorithms and dark pools, asking brokers for information about the practices.
The Securities and Exchange Surveillance Commission sent a questionnaire to brokerage firms this week, posing queries about the services they provide to HFT clients, including preferential treatment and products and differences in fees between HFT and non-HFT customers.
The document, obtained by Bloomberg News, also seeks to establish whether high-speed clients have access to dark pools and under what conditions. Brokers have to reply by Feb. 12.