Traders flag concerns over extra-territorial rules

The lack of coordination between regulators in Asia, the UK and US on harmonising securities market rules could raise systemic risk and put fund managers in a bind, argue senior buy-side traders. While the rationale behind much regulation, such as Hong Kong’s new electronic trading rules and the US’s Dodd-Frank act, makes sense, implementation across jurisdictions is challenging, said regional head traders from BlackRock and Fidelity at the annual Fix conference in Hong Kong yeste…