New York City, NY, May 09, 2010 --(PR.com
)-- Senator Kaufman's proposal to monitor high-frequency trading exhibited additional relevance with the dramatic swings financial markets experimented on Thursday. U.S. securities regulators had approved a rule requiring high-frequency traders to reveal their identities and disclose their trades. The extent at which this proposal will impact the activities of High-Frequency Trading players will be discussed at GoldenNetworking.net's High-Frequency Trading Leaders Forum 2010, "Innovating and Profiting from High-Frequency Trading in 2010 and Beyond" (http://www.HFTLeadersForum.com), May 27th, 2010, at New York City's Flatotel Hotel.
An article posted at popular financial blog Ultra High-Frequency Trading (http://www.ultrahighfrequencytrading.com), "Did Senator Kaufman have a point about monitoring high-frequency trading?," examined several proposals presented recently by Senator Kaufman and a statement released by his office, in light on Thursday's unprecedented activity. "Was there any market manipulation today? Fast computers are now in control, with stop loss orders automatically executed in a matter of microseconds. Yet, it might be too early to assign the blame for today's panic to high-frequency trading firms. The media is pointing its finger now to an unknown Citi trader that might have typed "billions" instead of "millions" in a Procter & Gamble order. However, according to The Wall Street Journal, there were six other stocks that hit zero, Accenture, Exelon, CenterPoint Energy, TransMontaigne Partners, Impax Laboratories and Boston Beer Company; on the other hand, Sotheby’s briefly touched $100,000 before closing at $33. That would seem a glitch in the exchanges' systems, rather than a mistake or manipulation by any single bank or trading firm; nevertheless, what happened won’t be known for sure until records are scrutinized, and that will take some time."
Ultra High-Frequency Trading concludes: "The SEC needs to understand high-frequency trading no more than they need to understand trading in general, before making any attempts to regulate it. Regulations have been in place for decades, yet, trading exchanges and their participants have evolved quickly in the last decade, and therefore it is reasonable to expect that some monitoring procedures of the past need to be revisited. Yes, Senator Kaufman had a point, strengthening the monitoring of not only high-frequency, algorithmic or electronic trading but trading in general; Bernie Madoff was certainly not a high-frequency trader."
High-Frequency Trading Leaders Forum 2010 is produced by GoldenNetworking.net (http://www.goldennetworking.net), the premier networking community for business executives, entrepreneurs, investors and diplomats, founded by former McKinsey consultant and Columbia Business School MBA Edgar Perez. Upcoming Leaders Forums and Business Networking receptions include:
- Real Estate Leaders Forum 2010, "Successfully Investing in Distressed Real Estate Assets" (http://www.RealEstateLeadersForum.com), June 17th, New York City
- High-Frequency Trading Happy Hour, (http://www.HFTHappyHour.com), June 8th, New York City
Panelists, speakers and sponsors are invited to contact GoldenNetworking.net by sending an email to firstname.lastname@example.org. GoldenNetworking.net has been frequently featured in the press, including recent articles in The New York Times, "Golden Networking Helps Job Seekers Make Overseas Connections" (http://www.nytimes.com/2009/11/07/nyregion/07network.html) and Columbia Business School's Hermes Alumni Magazine, "10 Under 10" (http://www7.gsb.columbia.edu/alumni/news/ten-under-ten).