(Reuters) – “Toronto-Dominion Bank Chief Executive Ed Clark said on Thursday he believes high frequency trading (HFT) gives an unfair advantage to some market participants and wants curbs by U.S. regulators.”

“HFT, in which sophisticated computer programs are used to send high volumes of orders to make markets or capitalize on price imbalances, has been criticized by some for giving HFT firms an unfair advantage over traditional traders.”

“I’m not a fan of high frequency trading,” Clark told reporters in Calgary after the bank’s annual general meeting. TD is Canada’s second-largest bank by market capitalization, with a large domestic franchise, as well as 1,300 branches in the United States.

“I don’t believe that one group of people should be advantaged in the marketplace. I think what you’re trying to do is run a market where everyone is on a equal footing,” he added.

“HFT makes up more than half of the market volume in the United States but is believed to account for a smaller portion of the Canadian market.”

***

Read full Reuters article here.