Thomson Reuters – High Frequency Trading

Reuters Newsshow all

EU’s Barnier throws spotlight on dark pool trades

EU Internal Market Commissioner Michel Barnier says dark pools, or anonymous trading venues heavily used by HFT traders, may need tougher rules.
EU to include commods in new fin markets rules

The European Commission says rules governing commodity markets could be tightened as it seeks to rein in speculative activity.
CME’s Melamed takes on CFTC’s Chilton, defends speed traders

CME Group chairman Emeritus Leo Melamed defends high-frequency trading. He says the activity adds liquidity and provides a service.
CFTC’s O’Malia: runaway algo shows new rules needed

CFTC Commissioner Scott O’Malia says a malfunctioning algorithm that caused a $1 spike in oil prices shows the need for regulators to tackle the risks posed by high-frequency trading.
Exclusive: Firm faces civil charges for U.S. oil trading mayhem

Sources: civil charges could be brought against Infinium Capital Management after a split-second glitch in one of its computer programs caused mayhem in the oil market in February.
BlueCrest spends big on rapid-trading “arms race”

Buildings beside Buckingham Palace and in the unexceptional English town of Basildon are among the centers of a quiet revolution in European stock markets as trading firms and funds seek to boost lightning-fast trades by a few millionths of a second.
Asia: The last frontier

Tokyo and Sydney lead Asian exchanges when it comes to high-frequency trading. Still, obstacles remain.
“Revenge of the Nerds”

“Revenge of the Nerds” meets Wall Street as students with PhD’s in “financial engineering” dominate high-frequency trading.
A modern trader’s clock: micro, nano and picoseconds

High-frequency trading now revolves around microseconds and even nanoseconds. Picoseconds are on the horizon.
Who’s afraid of high-frequency trading?

High-frequency trading now accounts for 60 percent of volume, and is spreading overseas and into other markets. Trading is also cheaper and easier than ever. Yet critics worry fast trading may undermine the integrity of the U.S. equity market, a bastion of capitalism and corporate America, and could even spark another financial crisis.

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CNBC: Robert Greifeld, Nasdaq OMX CEO, says second flash crash not inevitable

Robert Greifeld, Nasdaq OMX CEO, tells CNBC that the introduction of circuit breakers means another flash crash is not inevitable.
FT: Dutch lift lid on a high-frequency universe

Europe’s oldest high-frequency trading community talks about their role in the market.

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NY Times: Ex-Physicist Leads Flash Crash Inquiry

Former physicist leads search for clues leading to May 6 stock market flash crash

Opinionsshow all

High-frequency trading is a natural part of market evolution

Princeton economics professor Burton Malkiel, the author of “A Random Walk Down Wall Street”, defends high frequency trading and calls it a “natural evolution” of the markets.
The Victims of High-Frequency Trading-Matthew Goldstein

The story of one retail investor who may have been fleeced through high-frequency trading.
“The Daily Show” Cash Cow – High-Frequency Trading

“The Daily Show” takes a comedic look at high-frequency trading. The show’s Cash Cow, Samantha Bee, asks, “If I know about a stock’s activity a day before its called insider trading. But if I know about a stock’s activity one second before it’s high frequency trading?”
A Short History of Fast Times on Wall Street

A former SEC lawyer argues that there have always been unfair advantages on Wall Street and that high-frequency trading is just a natural evolution in trading.

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Graph on oil market impact

A haywire algorithm at Infinium drove up crude prices and volumes on Feb3, ahead of a sharp price drop and volatility in the following days
Tour of the NYSE’s Mahwah facility

Take a tour of the New York Stock Exchange’s new 400,000-square-foot, $250 million data center in Mahwah, New Jersey.
A brief history of computer-generated trading

The evolution of HFT in a timeline.

- Trichet, Turner Question Real Value of Bigger, Faster Trading - BusinessWeek
  Friday, 27th January 2012, 07:09pm
  Trichet, Turner Question Real Value of Bigger, Faster TradingBusinessWeekHigh-frequency trading, where firms use computer-driven algorithms to place hundreds of trades a second, now accounts for more than half of US stock trading volume, according to data compiled by Bloomberg. “Before the crisis, there was a very strong ...and more »
- The people behind Bay Street's trading supercomputers - Globe and Mail
  Friday, 27th January 2012, 06:13pm
  Globe and MailThe people behind Bay Street's trading supercomputersGlobe and MailA new breed of money men: electronic traders, who, through complex algorithms and high-frequency trading vehicles, are able to cause chaos in mere milliseconds. A human may have lit the match that set the markets on fire last August, but computers ...
- Stock market network reveals investor clustering - PhysOrg.com
  Friday, 27th January 2012, 05:28pm
  PhysOrg.comStock market network reveals investor clusteringPhysOrg.comBesides understanding markets on a large scale, this network could also have applications for investigating activity such as high-frequency trading with the potential to detect fraudulent patterns. “We have adapted this method to work at the level of a ...
- Savvis Provides Ultra Low Latency Connectivity to Eris Exchange, the Leading ... - VAdvert Press Center (press release)
  Friday, 27th January 2012, 01:38pm
  Savvis Provides Ultra Low Latency Connectivity to Eris Exchange, the Leading ...VAdvert Press Center (press release)Savvis, a CenturyLink company (NYSE: CTL), today announced the availability of a range of low latency connectivity options for trading firms requiring access to interest rate swap futures transacted on Eris Exchange, LLC. Eris Exchange is the leading, ...
- AlgoSpan Launches LSE Connect Low Latency Trading and Market Data Access - High Frequency Traders
  Thursday, 26th January 2012, 02:45pm
  AlgoSpan Launches LSE Connect Low Latency Trading and Market Data AccessHigh Frequency TradersDesigned, managed and dedicated specifically for LSE Group trading, AlgoSpan's LSE Connect™ service offers full (Extranex equivalent) trading and market data access over a 10Gb network platform, utilising the latest generation low latency hardware and ...
- GuavaTech Locates in New CME Group Facility - High Frequency Traders
  Thursday, 26th January 2012, 02:28pm
  www.waterstechnology.comGuavaTech Locates in New CME Group FacilityHigh Frequency TradersGuavaTech specializes in managed IT services for a range of financial clients, including hedge funds, brokers and proprietary trading firms. According to the company, it offers low latency connectivity to more than 75, ECNs, banks, liquidity pools and ...GuavaTech Inc. Announces Presence in CME Group's Co-Location FacilityBobsguide (press release)CQG co-locates at CME Group's new data centreAutomated Traderall 6 news articles »

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Ex-SEC Chief Economist Lauds Flash Crash Report

Former CFTC official Michael Greenberger says unregulated OTC derivatives have damaged the market, but new swaps rules will hurt firms.
Flash crash report fails – HFT critic Saluzzi

Co-Head of Equity Trading at Themis Joe Saluzzi says report merely recapped what had already happened on May 6.
Flash crash report too long in making, says NYU Professor

Professor at NYU Stern business Bernard Donefer says five months was too long to wait for the flash crash report.
U.S. SEC’s Schapiro: Flash Crash Report Will Restore Trust

The upcoming flash crash report will show that regulators have a “very deep understanding” of the marketplace, giving the public a measure of confidence, says SEC Chairperson Mary Schapiro.
Confidence in U.S. Markets Needs to be Restored, Says Pitt

U.S. markets need greater audit trails for problems and investors need to believe fundamental values are still relevant, says former Securities & Exchange Commission Chair Harvey Pitt.

Glossaryshow all

Statistical Arbitrage

Refers to mean-reversion strategies involving …
Regulation National Market System (Reg NMS)

Adopted by the U.S. Securities and Exchange …
Regulation Alternative Trading Systems (Reg ATS)

Regulation of Exchanges and Alternative Trading …
Quantitative Trading (or Black Box Trading)

Automated trading using algorithms that …
Pinging

Algorithms that constantly send out …

Documentsshow all

TD Ameritrade Comment Letter to SEC regarding “Concept Release on Equity Market Structure”

TD Ameritrade outlines the negative impact of high-frequency trading on retail investors and calls on SEC to perform market surveillance
Chicago Fed Weighs In on High-Frequency Trading

In a paper, the Federal Reserve of Chicago concludes that high-frequency trading has “the potential to generate errors and losses at a speed and magnitude far greater than floor or screen-based trading.”
SEC issues concept release related to high-frequency probe

The Securities and Exchange Commission publishes a 71-page concept release on market structure, seeking comment on the risks of high-frequency trading.
SEC Seeks Public Comment on Market Structure

The SEC seeks public comment on equity market structure to determine additional regulatory measures.

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