High-frequency trading (HFT)
CFTC’s Quintenz calls for ‘reset’ on Reg AT
New commissioner says rules on automated trading should address specific risks
Modal patterns in market data stump Morgan Stanley quants
New research suggests algo traders are changing the market microstructure
Ferc’s Collins dismisses algo trading fears
Energy Risk USA: surveillance chief says HFT is yet to take hold in the power and gas markets
Lawmakers seek to harden Mifid SI limits
European Parliament calls for guidance restricting riskless trading to be codified into law
EC angers Mifid zealots on equities trading loophole
Systematic internaliser networks will be addressed within the existing rules, says Dombrovskis
Virtu’s bid for KCG stokes liquidity fears
Deal could result in less trading and lower exchange revenues
How will banks suffer large op risk losses in the future?
Eight interlocking trends mean more multi-billion-dollar losses to come
HFT firm Teza said to be eyeing prop trading retreat
Big US Treasury trader has seen hedge fund add $1.5bn this year
DTCC’s Murray Pozmanter on repo clearing and HFT
Buy-side clearing a top priority following suspension of interbank GCF repo
Intraday data does not improve daily VAR, research suggests
Bids to use bigger datasets give no better loss forecasts, says hedge fund
DTCC coaxing HFTs to become clearing members
US Treasuries CCP concerned about contagion risk threat to existing members
Non-banks push direct liquidity streams in US Treasuries
Dealers could save millions in broker fees and transaction costs, non-banks claim
Algo trading feedback loops an urgent worry, Carney warns
Some traders don't understand risks of algos, BoE says
Riskology: Complexity economics as a future source of alpha
Advances in understanding of networks hold potential for new trading strategies for hedge funds
Interview: Zar Amrolia on liquidity provision
Former co-head of Ficc at Deutsche Bank believes non-banks will become essential source of liquidity for banks
Diffusing explosive portfolio performance evaluation of high frequency traders
This paper introduces an efficient Sharpe ratio (ESR) that diffuses explosive ASRs for HFT so that they are comparable to SRs for other actively managed funds.
US spoofing crackdown is a case of misplaced priorities
There are worse HFT practices than spoofing, yet only spoofers go to jail
CFTC spoofing crackdown poses compliance challenges
First conviction underscores concerns over "hard to define" crime
China could restrict offshore program trading in Hong Kong
Cross-border co-operation agreement already exists between CSRC and Hong Kong's SFC
CFTC's Giancarlo blames dwindling liquidity on bank regulators
Insolvency risk has been transformed to liquidity risk, says CFTC commissioner
FSOC in 'no rush' to regulate HFTs
More work to be done in understanding market structure changes, says Pinschmidt
SEC's White urges rules rethink for US Treasury venues
Current regime gives platforms easier ride on transparency
HFT's Treasury market penetration a clear concern
Dominance of opaque shops poses concentration risks
Chicago Fed official calls out CFTC, SEC over HFT regulation
“You cannot have 80% of the market being just HFT,” says Ranjan