High-frequency trading – three words that have had Wall Street in a tizz this week.
And the debate, sparked by a new book that claims the stock market is "rigged" by a group of high-frequency traders, stock exchanges and Wall Street firms, is being followed closely by the world's other major financial markets.
"I do think it [high-frequency trading] is a concern," said KC Chan, the Secretary for Financial Services and the Treasury, in Hong Kong. "I always feared that high-frequency trading provides liquidity that comes and goes very quickly."
"In order to protect the market we must understand how this works and have rules in place," he told CNBC.
High-frequency trading is the use of high speed data connections and super-fast computers to give traders an edge over competitors. Analysts say that while the system may help provide liquidity to markets, there are concerns about transparency.