Subject The article describes the practice of layering, realized by unscrupulous parties of exchange trading by using high-frequency trading algorithms. Objectives The paper aims to explore the practice of layering, the stages of its implementation, as well as the legal position of financial regulators in the US, UK, and EU countries in respect of practices implemented by using high-frequency trading algorithms. Methods For the study, I used the methods of comparative analysis, grouping, and analysis of information collected. Results The article shows the complexity of detection and suppression of the use of practices of layering. Conclusions and Relevance I conclude that the legislative regulation of the practice of layering in Russia is necessary, taking into account the experience of the world's leading marketplaces and legal position of the financial regulators in the United States, UK, and the European Union in the field of securities market. The results can be used in theoretical and practical activities on the securities market.
Iskyandyarov R.R. [Practice of spoofing: manipulation or the effective use of market inefficiency?] Ekonomika i upravlenie v mashinostroenii = Economics and management in engineering, 2015, no. 5, pp. 56–59. (In Russ.)
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