"We've directed the banks to take a look at their processes and have an independent review done," Teo Swee Lian, deputy managing director of the Monetary Authority of Singapore (MAS), told a news conference on Wednesday.
Regulators in Singapore and other major financial centres are looking into reforming interbank borrowing rates following suspected rigging of the London interbank offered rate (Libor).
More than a dozen banks are under investigation in the United States, United Kingdom and Japan for allegations they tried to manipulate interbank rates. British bank Barclays was fined $453 million last month after it admitted its traders tried to rig its rate submissions.
As banks ordered to review how interbank rates are set, Edgar Perez, author of The Speed Traders, will conduct the most thorough review of high-frequency trading at his upcoming The Speed Traders Workshop 2012 Singapore: How High Frequency Traders Leverage Profitable Strategies to Find Alpha in Equities, Options, Futures and FX, September 15 (http://www.TheSpeedTradersWorkshop.com).
Mr. Perez is widely regarded as the preeminent speaker in the specialized area of high-frequency trading. He is the author of The Speed Traders, An Insider’s Look at the New High-Frequency Trading Phenomenon That is Transforming the Investing World (http://www.thespeedtraders.com), published by McGraw-Hill Inc. (2011) and currently being translated into Chinese and Portuguese, and course director of The Speed Traders Workshop 2012, How High Frequency Traders Leverage Profitable Strategies to Find Alpha in Equities, Options, Futures and FX (Hong Kong, Mexico City, Moscow, Shanghai, New York and Chicago).
Mr. Perez has been featured on CNBC Cash Flow (with Oriel Morrison), CNBC Squawk Box (with Geoff Cutmore), BNN Business Day (with Kim Parlee), TheStreet.com (with Gregg Greenberg), Channel NewsAsia Business Tonight and Cents & Sensibilities (with Lin Xue Ling), NHK World, iMoney Hong Kong, Hedge Fund Brief, The Wall Street Journal, The New York Times, Dallas Morning News, Valor Econômico, The Korea Herald, FIXGlobal Trading, The Korea Times, TODAY Online, Oriental Daily News and Business Times.
Mr. Perez has been engaged to present to the U.S. Securities and Exchange Commission, CFA Singapore, Hong Kong Securities Institute, Courant Institute of Mathematical Sciences at New York University and Pace University, among other public and private institutions. In addition, Mr. Perez has spoken at a number of global conferences, including Harvard Business School’s Venture Capital & Private Equity Conference (Boston), High-Frequency Trading Leaders Forum (New York, Chicago, London), MIT Sloan Investment Management Conference (Cambridge), Institutional Investor’s Global Growth Markets Forum (London), Technical Analysis Society (Singapore), TradeTech Asia (Singapore), FIXGlobal Face2Face (Seoul) and Private Equity Convention Russia, CIS & Eurasia (London).
The Speed Traders Workshop 2012 Singapore (http://thespeedtradersworkshopsingapore.eventbrite.com/