World's Most Influential HFT Conference to Analyze why Exchanges Hit by Trading Error

Aug. 27, 2012 - PRLog -- (August 20, 2012, New York) The Financial Times’ ArashMassoudi reports that the Nasdaq Stock Market and other exchanges cancelled trades in a security on August 22 after erroneous orders triggered a steep rise in its share price in a matter of seconds. The cancellation highlighted what is becoming a frequent feature of trading on stock exchanges as the rise of automated and high-frequency trading has increased the likelihood that mistaken orders take place.
Shares in Peet’s Coffee and Tea jumped nearly 5 per cent on unusually high volume just after the electronic stock exchange opened in New York. Nasdaq said in an alert that it would cancel all trades at or above $76.11 executed between 9.31am and 9.32am in shares of the coffee retailing chain that is traded on its exchange.
The company’s shares – which opened at $73.89 – jumped to as high as $77.47 in the opening two minutes of trading, according to Bloomberg data. Citing guidelines, Nasdaq said it could not name the firm or firms from where the trading error might have occurred.
Earlier this month, a faulty software trading programme nearly sent Knight Capital Group, one of the largest market makers in the US, into bankruptcy. In fact, this will be the most important topic of 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 (http://www.goldennetworking.net), 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.