New York, NY, May 12, 2010 --(PR.com
)-- While announcing that his committee will hold hearings on last Thursday's events tomorrow in Washington DC, Senate Banking Committee Chairman Chris Dodd said that for now the priority is for the Securities and Exchange Commission and the Commodities Futures Trading Commission to come up quickly with answers for dealing with high-frequency trading marked by a lack of marketwide circuit breakers to prevent the market from spiraling out of control, reported the Associated Press.
"Dodd said he did not see a need for new legislation. The financial overhaul bill now being debated in the Senate does have early warning systems to detect problems such as having circuit breakers at only one exchange, he said. 'You shouldn't have a crisis like this happen before noticing that,' he said. Dodd noted that the freefall on Wall Street occurred when there was good economic news: a sharp growth in jobs, particularly in the manufacturing sector. 'So you are getting sort of this casino environment that's appearing in our markets,' he said. 'It does not reflect what's going on in the real economy.'"
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, will cover the most important and relevant issues for all participants of the high-frequency trading world. Confirmed Keynote Speakers include Dr. Andrew Kumiega (Director, Infinium Capital Management), covering "The Ins and Outs of Effective Backtesting and Controlling High-Speed Trading Algorithms", and Professor Ben Van Vliet (Lecturer, Illinois Institute of Technology), on "Developing Profitable High-Frequency Trading and Investment Systems".
High-Frequency Trading Leaders Forum 2010 is produced by Golden Networking (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:
· High-Frequency Trading Happy Hour, (http://www.HFTHappyHour.com), June 8th, New York City
· Real Estate Leaders Forum 2010, "Successfully Investing in Distressed Real Estate Assets" (http://www.RealEstateLeadersForum.com), June 17th, New York City
Panelists, speakers and sponsors are invited to contact Golden Networking by sending an email to firstname.lastname@example.org. Golden Networking 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).