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Edward Blair defending High-frequency trading practices 0 comments

Oct 25, 2011 4:42 PM

According to FX week Asia, the practices of high-frequency trading participants in the foreign exchange market were robustly defended by speakers at the FX Week Asia conference in Singapore on October 18.Edward Blair, a high-frequency trader and chief executive of Microsecond Trading Software, a Singaporean consulting firm that has an exclusive licensing agreement with a proprietary trading firm in Chicago stated:”Many of the predatory unfair practices attributed to high-frequency traders are not new. There’s nothing new under the sun in trading, it’s just happening faster”. This topic will also be discussed further by Edgar Perez, author of The Speed Traders, An Insider's Look at the New High-Frequency Trading Phenomenon That is Transforming the Investing World (http://www.thespeedtraders.com), at The Speed Traders Workshop 2011, "The Present and Future of High-Frequency Trading" (http://www.thespeedtradersworkshop.com), in Singapore, Hong Kong and Sao Paulo. The Speed Traders Workshop 2011 will be extremely helpful for all delegates who are working in finance and investments, from financial institutions, investment banks, hedge funds, pension funds, broker dealers, consultancy groups, prime brokers, solution providers and exchanges, who wish to gain a thorough understanding and practical knowledge of high-frequency trading.
Joel Clark reports that in an exclusive address at the conference, Blair attempted to dispel some of the myths relating to high-frequency trading and insisted it adds liquidity to the FX markets, echoing the findings of a major study by the Bank for International Settlements published last month. “There will always be insider deals and there will always be faster information. Some of those are used for dubious strategies like scalping and I would certainly take issue with front-running customers, but on balance they tend to add liquidity,” said Blair.
But he supported moves by some trading platforms, particularly Icap’s EBS, to impose new rules to accommodate the needs of manual and high-frequency participants, such as minimum quote life and restrictions on the number of orders that can be placed per second.
The Speed Traders Workshop 2011, led by Edgar Perez, author of The Speed Traders, will reveal how high-frequency trading players are succeeding in the global markets and driving the development of algorithmic trading at breakneck speeds from the U.S. and Europe to India, Singapore and Brazil. Highlights of The Speed Traders Workshop 2011 include:
·         The first and most comprehensive initiation to the world of high-frequency trading
·         Study materials provided by Edgar Perez, the author of the latest book on the subject of speed trading, and a well-known presenter in America, Europe and Asia
·         Latest update on high-frequency trading in the world and current regulatory initiatives
·         Techniques to detect high-frequency trading in the markets
·         Key enablers of high-frequency trading in the U.S., Europe and Asia
·         Proposed regulatory initiatives after the "flash crash”
·         Up-to-date review of the future of high-frequency trading
The Speed Traders, published by McGraw-Hill Inc., available online at amazon.com, Barnes & Noble, BORDERS, and INDIEBOUND, among multiple bookstores, is the most comprehensive, revealing work available on the most important development in trading in generations. High-frequency trading will no doubt play an ever larger role as computer technology advances and the global exchanges embrace fast electronic access. The Speed Traders explains everything there is to know about how today's high-frequency traders make millions—one cent at a time. In this new title, The Speed Traders, Mr. Perez opens the door to the secretive world of high-frequency trading. Inside, prominent figures drop their guard and speak with unprecedented candidness about their trade.
Mr. Perez is widely regarded as the pre-eminent networker in the specialized area of high-frequency trading. He has been featured on CNBC Cash Flow with Oriel Morrison (http://video.cnbc.com/gallery/?video=2023403523), BNN Business Day with Kim Parlee (http://watch.bnn.ca/business-day/august-2011/business-day-august-19-2011/#clip519647), TheStreet.com with Gregg Greenberg (http://www.thestreet.com/video/11144274/high-frequency-traders-not-the-enemy.html), Channel NewsAsia Cent & Sensibilities with Lin Xue Ling, The Wall Street Journal, The New York Times, Los Angeles Times, iMoney Hong Kong, Hedge Fund Brief, Oriental Daily News Hong Kong, and more. He has been engaged as speaker at Harvard Business School’s 17th Annual Venture Capital & Private Equity Conference, High-Frequency Trading Leaders Forum 2011 (New York, Chicago, Hong Kong, Sao Paulo, Singapore), CFA Singapore, Hong Kong Securities Institute, Courant Institute of Mathematical Sciences at New York University (New York), Global Growth Markets Forum (London), Technical Analysis Society (Singapore), Middle East Hedge Funds Investors Summit 2012 (Riyadh, Saudi Arabia), among other global forums.
Mr. Perez was a vice president at Citigroup, a senior consultant at IBM, and a consultant at McKinsey & Co. in New York City. Mr. Perez has an undergraduate degree from Universidad Nacional de Ingeniería, Lima, Peru (1994), a Master of Administration from Universidad ESAN, Lima, Peru (1997) and a Master of Business Administration from Columbia Business School, with a dual major in Finance and Management (2002). He belongs to the Beta Gamma Sigma honor society. Mr. Perez resides in the New York City area and is an accomplished salsa and hustle dancer.
Mr. Perez is one of the great business networkers and motivators on the lecture circuit; he is available worldwide for the following speaking engagements: Present and Future of High-Frequency Trading, The Real Story behind the "Flash Crash", Networking for Financial Executives, and Business Networking for Success.

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Edward Blair defending High-frequency trading practices 0 comments

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