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The Israel Securities Authorities (ISA) has hit a roadblock in its drive to curb retail algo trading in the country. A Tel-Aviv district court has ruled against the ISA in the case of USG Capital – allowing the broker to offer platforms that support algo trading without it being considered portfolio management.
The ISA previously stated that computerized portfolio management services often require a portfolio management license and people who offer this activity without being a licensed portfolio manager are allegedly acting in violation of the law. The watchdog specifically stressed before that a trading arena license (as an online broker ... (read more)