Why Fast Trades Could Make Markets Nervous at World’s Most Influential Alternative Investment Show
Building off of the momentum of past conferences, Golden Networking brings back High Frequency Trading Leaders Forum 2012, now in New York, Chicago and London
Aug. 28, 2012 - PRLog -- (August 20, 2012, New York) The Australian reports that the Australian Securities Exchange reported only its second profit fall in its 14 years as a listed company, as trading volumes fell to their lowest levels since 2005. The investment-banking industry is doing it tough (in relative terms), with confidence low and trading volumes falling by the day. This may also explain why the industry is at war over what, if anything, should be done about high-frequency trading.
ASX chief Elmer Funke Kupper spent the bulk of his profit presentation yesterday trying to talk around his conflicts and about his concerns. The worries are spreading from the immediate industry, with the country's top finance chiefs (under the banner of the Group of 100) about to conduct a major review of the issue.
An internal Australian Securities & Investments Commission taskforce is already on the job and Financial Services Minister Bill Shorten has made his concerns about market integrity known. Group of 100 president and Wesfarmers chief financial officer Terry Bowen said yesterday that he was worried the growth in electronic trading would undermine confidence in the stockmarket. "I think the claimed benefits of increased liquidity may be undermined by by the negatives," Bowen said.
Goldman Sachs is lobbying behind the scenes against high-speed electronic trades. As always in the investment-banking industry, perceptions of self-interest are said to guide individual views, and Goldman isn't an active trader.
There are four big HFT traders in Australia -- Getco, Virtu, BNP and Barclays -- and they account for between 30 per cent and 60 per cent of trade on the bourse, depending on whose figures you use. Getco and Virtu work through Chi-X, BNP trades under the UBS broker code and Barclays the Citibank code.
The brokers like HFT trading on one level because it boosts market share, which helps them pitch for equity-market work, based on their superior market knowledge. Sadly, there is little by way of equity-capital market work right now and, if there was, by definition the market share gained through HFT trades would be meaningless, because the bank would have no idea what was happening. To really know what is happening in the industry, traders and investors will save the date for upcoming High Frequency Trading Leaders Forum 2012, this time in three of the world’s most important financial centers: New York, Chicago and London.
High Frequency Trading Leaders Forum 2012, How Knight Capital's 'Knightmare on Wall Street' Could Transform the Regulatory Landscape and Impact Investors, Speed Traders and Brokers", will provide attendees in New York, Chicago and London with the most up-to-date review of where this ever-changing industry stands and how new technology and regulatory developments will impact it. Recognized experts, regulators, and strategists, will return to High-Frequency Trading Leaders Forum 2012 to provide the information practitioners are looking for in an open and unbiased environment, highly conducive to the most efficient and effective networking.
With insightful keynote speeches and highly regarded panels, everybody involved in high-frequency trading will gain inside knowledge about the latest technologies that can drastically optimize HFT infrastructures and take a first look at upcoming regulations that could radically change the HFT firms’ business model. Topics that will be discussed at High Frequency Trading Leaders Forum 2012 include the movement toward emerging markets, every time more attuned to the use of bots, the regulatory environment, how new technologies are changing the game, including FPGA applications, and a look at the upcoming regulatory changes that will definitely impact how speed traders capture alpha.
High Frequency Trading Leaders Forum 2012 is produced by Golden Networking , the premier networking community for business executives, entrepreneurs and investors. Panelists, speakers and sponsors are invited to contact Golden Networking by sending an email to info@goldennetworking.net.
ASX chief Elmer Funke Kupper spent the bulk of his profit presentation yesterday trying to talk around his conflicts and about his concerns. The worries are spreading from the immediate industry, with the country's top finance chiefs (under the banner of the Group of 100) about to conduct a major review of the issue.
An internal Australian Securities & Investments Commission taskforce is already on the job and Financial Services Minister Bill Shorten has made his concerns about market integrity known. Group of 100 president and Wesfarmers chief financial officer Terry Bowen said yesterday that he was worried the growth in electronic trading would undermine confidence in the stockmarket. "I think the claimed benefits of increased liquidity may be undermined by by the negatives," Bowen said.
Goldman Sachs is lobbying behind the scenes against high-speed electronic trades. As always in the investment-banking industry, perceptions of self-interest are said to guide individual views, and Goldman isn't an active trader.
There are four big HFT traders in Australia -- Getco, Virtu, BNP and Barclays -- and they account for between 30 per cent and 60 per cent of trade on the bourse, depending on whose figures you use. Getco and Virtu work through Chi-X, BNP trades under the UBS broker code and Barclays the Citibank code.
The brokers like HFT trading on one level because it boosts market share, which helps them pitch for equity-market work, based on their superior market knowledge. Sadly, there is little by way of equity-capital market work right now and, if there was, by definition the market share gained through HFT trades would be meaningless, because the bank would have no idea what was happening. To really know what is happening in the industry, traders and investors will save the date for upcoming High Frequency Trading Leaders Forum 2012, this time in three of the world’s most important financial centers: New York, Chicago and London.
High Frequency Trading Leaders Forum 2012, How Knight Capital's 'Knightmare on Wall Street' Could Transform the Regulatory Landscape and Impact Investors, Speed Traders and Brokers", will provide attendees in New York, Chicago and London with the most up-to-date review of where this ever-changing industry stands and how new technology and regulatory developments will impact it. Recognized experts, regulators, and strategists, will return to High-Frequency Trading Leaders Forum 2012 to provide the information practitioners are looking for in an open and unbiased environment, highly conducive to the most efficient and effective networking.
With insightful keynote speeches and highly regarded panels, everybody involved in high-frequency trading will gain inside knowledge about the latest technologies that can drastically optimize HFT infrastructures and take a first look at upcoming regulations that could radically change the HFT firms’ business model. Topics that will be discussed at High Frequency Trading Leaders Forum 2012 include the movement toward emerging markets, every time more attuned to the use of bots, the regulatory environment, how new technologies are changing the game, including FPGA applications, and a look at the upcoming regulatory changes that will definitely impact how speed traders capture alpha.
High Frequency Trading Leaders Forum 2012 is produced by Golden Networking , the premier networking community for business executives, entrepreneurs and investors. Panelists, speakers and sponsors are invited to contact Golden Networking by sending an email to info@goldennetworking.net.
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| Tags | : | High-frequency Trading Conference, HFT Conference, Golden Networking |
|---|---|---|
| Industry | : | Financial, Business |
| Location | : | New York - United States |