Lenglet Marc, Mol Joeri, 2016, « Squaring the speed of light? Regulating market access in algorithmic finance », Economy and Society, vol. 45, n°2, p. 201-229.

    We examine the sociomaterial regulation of algorithmic trading against the back- ground of the European Unions directives on Markets in Financial Instruments (MiFID/MiFIR). Tracing the purification and translation of regulatory practices within a French brokerage firm, we examine the impact of electronic trading on the nature of market access. Central to our analysis is the Blackbox, a tool designed to manage market access efficiently by collating trade flows and auto- matically pairing them with trading algorithms. Our findings show that, through a process of abstracting, purification and translation are kept strictly separate, allowing the broker to meet the regulatory requirements de jure whilst retaining de facto the unregulated advantages of high-speed materiality. We discuss the implications for both the policy and practice of high-speed financial trading. 

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