Tag Archives: hft conference

Future of Automated Trading According to Foresight Report with Bristol’s LSCITS Leader Dave Cliff

Golden Networking hosts the World’s Most Influential High-Frequency Trading Conference Series, High Frequency Trading Leaders Forum 2013 London “Strategic and Tactical Insights for Investors, Speed Traders, Brokers and Exchanges”, March 21 (www.High-Frequency-Trading-Conference.com).

New York City, NY, USA (March 13, 2013) — “What the Foresight Report Tell us About the Future of Computer Trading in Financial Markets” is the topic of closing keynote speaker professor Dave Cliff, Department of Computer Science, University of Bristol and Foresight Project Member of the Lead Expert Group on Algorithmic Trading, at the most influential high-frequency trading conference in the world, Golden Networking’s High Frequency Trading Leaders Forum 2013 London, “Strategic and Tactical Insights for Investors, Speed Traders, Brokers and Exchanges”, March 21 (http://www.High-Frequency-Trading-Conference.com).

Advances in technology continue to transform how our financial markets operate. The volume of financial products traded through computer automated trading taking place at high speed and with little human involvement has increased dramatically in the past few years. For example, today, over one third of United Kingdom equity trading volume is generated through high frequency automated computer trading while in the US this figure is closer to three-quarters.

The new two-year Foresight study The Future of Computer Trading in Financial Markets – An International Perspective, sheds new light on technological advances which have transformed market structures in recent years. The independent and international study has involved 150 leading experts from more 20 countries to provide the best possible analysis on computer trading to date. The aim of this project is to make a significant contribution to the challenges computer-based trading brings in the coming years and capitalize on the opportunities it has to offer.

It assembles and analyses evidence on the effect of HFT on financial markets looking out to 2022. A High Level Stakeholder Group, comprised of senior individuals from relevant institutions, provided strategic oversight for the project and advised on the key issues to be addressed.

Sponsored by Her Majesty’s Treasury, the project was led by the Government Office for Science under the direction of the Government’s Chief Scientific Adviser, Professor Sir John Beddington. It has involved leading experts, among them, Professor Cliff, member of the computer science team at the University of Bristol and Director of the UK Large Scale Complex IT Systems Initiative. Professor Cliff is the inventor of the seminal “ZIP” trading algorithm, one of the first of the current generation of autonomous adaptive algorithmic trading systems, which was demonstrated to outperform human traders in research published in 2001 by IBM.

Prior to joining the University of Bristol in 2007, Professor Cliff held faculty posts at the University of Sussex School of Cognitive and Computing Sciences, at the MIT Artificial Intelligence Laboratory, and at the University of Southampton School of Electronics and Computer Science. He’d also spent roughly half his career working as a researcher in industry: initially for Hewlett-Packard Labs, where he ended up as a Department Scientist; and latterly for Deutsche Bank London, where he was a Director/Trader in their Foreign Exchange Complex Risk Group.

Since October 2005, Professor Cliff has been Director of the UK Research and Training Initiative in the Science and Engineering of Large-Scale Complex IT Systems (LSCITS). This is funded by almost £10m of UK public funds (from EPSRC), with significant support from partners in industry and the UK public sector.

Most of his personal research work in the ten years before he got involved in LSCITS was centered on adaptive automated trading systems for various types of markets, and on automated design of market mechanisms. He started doing this in 1995, for market-based control of ultra-large-scale data-centres. In 2001 a team at IBM showed his “ZIP” trading software beating human traders, which got the attention of various companies in the global financial markets.

High-Frequency Trading Leaders Forum 2013 (http://www.High-Frequency-Trading-Conference.com) “Strategic and Tactical Insights for Investors, Speed Traders, Brokers and Exchanges” will bring insights for investors and speed traders, who need to protect and refine their competitive advantage in a world dominated by algorithmic and high-frequency trading. Recognized practitioners, regulators, experts, and strategists will return to High-Frequency Trading Leaders Forum 2013 to provide attendees with the information they are looking for in an open and unbiased environment, highly conducive to the most efficient and effective networking:

– Professor Alex Preda, Professor of Accounting, Accountability and Financial Management, King’s College
– Ms. Arlene McCarthy, Vice Chair – Economics and Monetary Affairs Committee and Draftsperson, Market Abuse Directive, European Parliament
– Mr. Axel Pierron, Sr. VP, Securities & Investments, Celent
– Ms. Carol Clark, Sr. Policy Specialist, Federal Reserve Bank of Chicago
– Mr. Chris Skinner, Chairman, Financial Services Club
– Professor Daniel Beunza, Lecturer, London School of Economics
– Professor Dave Cliff, Department of Computer Science, University of Bristol
– Mr. David Mills, Sales Director EMEA, Azul Systems
– Mr. Edgar Perez, Author, The Speed Traders
– Mr. Giovanni Beliossi, Managing Partner, FGS Capital
– Mr. Hirander Misra, Chairman, Forum Trading Solutions
– Professor Juan Pablo Pardo-Guerra, Lecturer, London School of Economics
– Dr. Magrino Bini, Statistical Arbitrage Portfolio Manager, Millennium Partners
– Mr. Philip Stafford, FT Trading Room Deputy Editor, Financial Times
– Professor Philip Treleaven, Director, PhD, Centre in Financial Computing, UCL
– Mr. Philippe Guillot, Executive Director of the Markets Division, Autorité des Marchés Financiers (AMF)
– Mr. Sam Tyfield, Partner, Vedder Price, P.C.
– Mr. Stuart Theakston, Head of Research and Automated Trading, GLC
– Dr. Tommi A. Vuorenmaa, Head of Research & Trading, Valo Research and Trading
– Mr. VJ Angelo, Director, Global Markets Exchange Group
– Professor Walter Distaso, Professor of Financial Econometrics, Imperial College London

High Frequency Trading Leaders Forum 2013 is produced by Golden Networking (http://www.goldennetworking.net), the premier networking community for business executives, entrepreneurs and investors. Panelists, speakers and sponsors are invited to contact Golden Networking by calling +1-414-FORUMS0 or sending an email to info@goldennetworking.net.

Media Contact:
Julia Petrova
Media Relations Coordinator
Golden Networking
+1-414-FORUMS0
jpetrova@goldennetworking.net
http://www.goldennetworking.net

Google’s Top-Ranked HFT Conference to Bring Hundreds of Traders Together in London, NYC and Chicago

Golden Networking hosts the World’s Most Influential High-Frequency Trading Conference Series, High Frequency Trading Leaders Forum 2013 London “Strategic and Tactical Insights for Investors, Speed Traders, Brokers and Exchanges”, March 21 (www.HFTExpertsForum.com).

New York City, NY, USA (March 13, 2013) — Which is the Google’s top-ranked high-frequency trading all over the world? High-Frequency Trading Leaders Forum 2013, “Strategic and Tactical Insights for Investors, Speed Traders, Brokers and Exchanges” (http://www.HFT-Leaders-Forum.com), organized by Golden Networking, will bring the latest on speed trading to the world’s financial capitals, London (March 21), New York City (May 30) and Chicago (October 8).

Advanced computerized trading platforms and market gateways are becoming standard tools of most types of traders, including high-frequency traders. Broker-dealers now compete on routing order flow directly, in the fastest and most efficient manner, to the line handler where it undergoes a strict set of Risk Filters before hitting the execution venue(s). Ultra Low Latency Direct Market Access (ULLDMA) is a hot topic amongst Brokers and Technology vendors such as Goldman Sachs, Credit Suisse, and UBS. Typically, ULLDMA systems can currently handle high amounts of volume and boast round-trip order execution speeds (from hitting “transmit order” to receiving an acknowledgment) of 10 milliseconds or less.

Such performance is achieved with the use of hardware acceleration or even full-hardware processing of incoming market data, in association with high-speed communication protocols, such as 10 Gigabit Ethernet or PCI Express. More specifically, some companies provide full-hardware appliances based on FPGA technology to obtain sub-microsecond end-to-end market data processing. High-Frequency Trading Leaders Forum 2013 will provide traders, quants and technologists with the most up-to-date review of where this ever-changing industry stands and is going through an inspiring keynote speeches and thought-provoking panels with leaders in the field.

With high-frequency trading the subject of great controversy and debate, many regulations will be bound to change. How will regulations impact the way traders are capturing alpha? Would there be restrictions that can possibly harm algorithmic trading? How the economic and political landscape might impact the pace and severity of these changes?

Finally, there has been a dramatic shift in how instruments are traded in the market. With high frequency trading able to detect price discrepancies in microseconds, aided by technology, regulators have grown increasingly concerned about its impact in market structure and fairness. What is the outlook for the markets when all participants engage in the arms race of super smart algorithms? Where will institutional and retail investors find opportunities? Conversely, could we imagine a world without high-frequency trading?

High-Frequency Trading Leaders Forum 2013 (http://www.High-Frequency-Trading-Conference.com) “Strategic and Tactical Insights for Investors, Speed Traders, Brokers and Exchanges” will bring insights for investors and speed traders, who need to protect and refine their competitive advantage in a world dominated by algorithmic and high-frequency trading. Recognized practitioners, regulators, experts, and strategists will return to High-Frequency Trading Leaders Forum 2013 London, New York City and Chicago to provide hundreds of attendees with the information they are looking for in an open and unbiased environment, highly conducive to the most efficient and effective networking.

Topics that will be discussed at High-Frequency Trading Leaders Forum 2013 include the role of new technologies to achieve low-latency, the movement toward emerging markets, which is increasingly attuned to the use of bots, and the regulatory environment, specifically how new technologies are changing the game, including a look at the upcoming regulatory changes in both sides of the Atlantic.

High Frequency Trading Leaders Forum 2013 is produced by Golden Networking (http://www.goldennetworking.net), the premier networking community for business executives, entrepreneurs and investors. Panelists, speakers and sponsors are invited to contact Golden Networking by calling +1-414-FORUMS0 or sending an email to info@goldennetworking.net.

Media Contact:
Julia Petrova
Media Relations Coordinator
Golden Networking
+1-414-FORUMS0
jpetrova@goldennetworking.net
http://www.goldennetworking.net

Closing Deals with Hundreds of Traders & Techies at High-Frequency Trading Leaders Forum 2013 London

Golden Networking hosts the World’s Most Influential High-Frequency Trading Conference Series, High Frequency Trading Leaders Forum 2013 “Strategic and Tactical Insights for Investors, Speed Traders, Brokers and Exchanges”, London (March 21), New York City (May 30) and Chicago (October 8) (www.High-Frequency-Trading-Conference.com).

New York City, NY, USA (March 13, 2013) — Finance, technology and consulting firms can provide unique insights from their industry exposure to unique audiences looking to maintain their edge in the competitive investment arena. Golden Networking‘s forums have been known to raise the profile of both established and emerging firms in finance, technology and consulting. Alternative investments analysts, asset managers, automated traders, chief economists, chief investment officers, chief operating officers, chief risk officers, chief technology officers, developers, financial engineering graduates, fund of funds managers, heads of trading, government regulators, hedge fund managers, high-frequency traders, institutional investors, investment professionals, legal advisors, portfolio managers, proprietary traders, quality directors, quantitative traders, risk managers and statistical arbitrageurs are a few of the titles of attendees expected at High-Frequency Trading Leaders Forum 2013.

High-Frequency Trading Leaders Forum 2013 (http://www.High-Frequency-Trading-Conference.com), “Strategic and Tactical Insights for Investors, Speed Traders, Brokers and Exchanges”, forums that will be held in London (March 21), New York City (May 30) and Chicago (October 8), will provide the financial and technology communities the opportunity to reach out hedge funds traders, high-frequency trading quants, managers, technologists and practitioners in general while they get the most up-to-date review of where this ever-changing industry stands and is going through inspiring keynote speeches and revealing panel discussions.

Participating as a Sponsor of our High-Frequency Trading Leaders Forum 2013 is an excellent opportunity for finance and technology companies to receive maximum exposure to the high-frequency, quantitative and algorithmic trading communities. Golden Networking is offering three outstanding packages each with a terrific set of privileges for different budgets: Platinum, Gold and Silver, plus specific add-ons that include sponsoring a breakfast, a lunch or a networking reception.

Key Platinum Sponsorship benefits:

– Keynote speaker opportunity
– Top logo placement in ALL program materials
– Top logo placement on website with hyperlink
– Two (2) exhibition stand units
– Complimentary six (6) passes for your clients & prospects
– Acknowledgement of sponsorship during remarks
– Full-page program insert
– Final attendee list with contact information

Key Gold Sponsorship benefits:

– Panelist / moderator opportunity
– Prominent logo placement in ALL program materials
– Prominent logo placement on website with hyperlink
– One (1) exhibition stand unit
– Complimentary 4 passes for your clients & prospects
– Acknowledgement of sponsorship during remarks
– Full-page program insert
– Final attendee list with contact information

Key Silver Sponsorship benefits:

– Logo placement in ALL program materials
– Logo placement on website with hyperlink
– One (1) exhibition stand unit
– Complimentary 2 passes for your clients & prospects
– Acknowledgement of sponsorship during remarks
– Half-page program insert
– Final attendee list with contact information

Key Associate Sponsorship benefits:

– Logo placement on website with hyperlink
– One (1) exhibition stand unit
– Complimentary two (2) passes for your clients & prospects
– Final attendee list with contact information

Key Exhibitor Sponsorship benefits:

– One (1) exhibition stand unit
– Complimentary two (2) passes for your clients & prospects

High Frequency Trading Leaders Forum 2013 is produced by Golden Networking (http://www.goldennetworking.net), the premier networking community for business executives, entrepreneurs and investors. Panelists, speakers and sponsors are invited to contact Golden Networking by calling +1-414-FORUMS0 or sending an email to info@goldennetworking.net.

Media Contact:
Julia Petrova
Media Relations Coordinator
Golden Networking
+1-414-FORUMS0
jpetrova@goldennetworking.net
http://www.goldennetworking.net

Achieving Low Latency and High Throughput at High-Frequency Trading at HFT Leaders Forum 2013 London

Golden Networking brings the World’s Most Influential High-Frequency Trading Conference Series, High Frequency Trading Leaders Forum 2013, “Strategic and Tactical Insights for Investors, Speed Traders, Brokers and Exchanges,” London, March 21 (www.High-Frequency-Trading-Conference.com).

New York City, NY, USA (March 12, 2013) — As high-frequency trading (HFT) moves towards multi-asset classes running multi-legged strategies demanding even faster execution, ultra-low latency performance becomes the focus. How will architectures evolve to meet the latency challenge? How helpful overclocking CPUs and leveraging FPGA coprocessors can result? How will wireless, cloud and big data technologies play in the speed race? How technology can enable modern applications to minimize latency while managing for high throughput? The answers will be debated at High Frequency Trading Leaders Forum 2013 London (http://www.High-Frequency-Trading-Conference.com), “Strategic and Tactical Insights for Investors, Speed Traders, Brokers and Exchanges”, this March 21 in London.

High-frequency trading strategies are highly dependent on ultra-low latency. To realize any real benefit from implementing these strategies, a firm must have a real-time, colocated, high-frequency trading platform where data is collected, and orders are created, routed and executed in sub-millisecond times. For HFT strategies speed of execution is key.

DMA or DSA (algo) are means of executing trading flow on a selected venue by almost bypassing the brokers discretionary methods. For the lack of interaction with the broker this is sometimes referred to as no-touch. DMA flow passes directly through the DMA market gateway and onto the venue while passing though strict risk checking and position keeping algorithms. It is at this point the brokers may monitor the behavior of their DMA clients. For the purposes of high-frequency trading, the DMA must not delay orders by more than a millisecond with a few technology firms able to achieve round trip times in the microseconds. With the ability to co-locate the HFT traders black boxes with the DMA next to a venue’s matching engine, ultra-low latency can be achieved.

“Strategic and Tactical Insights for Investors, Speed Traders, Brokers and Exchanges,” is the theme of High-Frequency Trading Leaders Forum 2013, forum that will provide attendees in London with the most up-to-date review of where this ever-changing industry stands through an insightful keynote speeches and thought-provoking panels with leaders in the field. Recognized experts, regulators, and strategists, will return to High-Frequency Trading Leaders Forum 2013 London to provide the information practitioners are looking for in an open and unbiased environment, highly conducive to the most efficient and effective networking.

High Frequency Trading Leaders Forum 2013 is produced by Golden Networking (http://www.goldennetworking.net), the premier networking community for business executives, entrepreneurs and investors. Panelists, speakers and sponsors are invited to contact Golden Networking by calling +1-414-FORUMS0 or sending an email to info@goldennetworking.net.

Media Contact:
Julia Petrova
Media Relations Coordinator
Golden Networking
+1-414-FORUMS0
jpetrova@goldennetworking.net
http://www.goldennetworking.net

Arlene McCarthy MEP at The Times: U.K. needs to take a crash course in influencing E.U. partners

Golden Networking hosts the World’s Most Influential High-Frequency Trading Conference Series, High Frequency Trading Leaders Forum 2013 London “Strategic and Tactical Insights for Investors, Speed Traders, Brokers and Exchanges”, March 21 (www.High-Frequency-Trading-Conference.com).

New York City, NY, USA (March 12, 2013) — According to The New York Times, the British government stood isolated last week on an important European Union issue Tuesday after finance ministers from elsewhere in the bloc rejected its effort to water down proposed limits on bankers’ bonuses.

The ministers, taking up rules provisionally approved last week by representatives of the European Parliament and member states, broadly agreed on Tuesday to cap bonuses at no more than the annual salary for bankers working in the 27-nation European Union and for those working for European-based banks worldwide. The ministers left the door open for further concessions that could permit some slightly higher bonuses. The bonus caps, which are subject to formal approval by a majority of member states, among other steps, are aimed at reining in the risky, but potentially high-reward, behavior that contributed to the financial crisis.

British officials and bankers have warned that the limits could make it harder to keep London, Europe’s main financial hub, competitive with financial centers like New York, Singapore and Hong Kong.

“This government needs to take a crash course in finding friends and influencing E.U. partners,” said Arlene McCarthy, a member of Britain’s Labour Party in the European Parliament, senior member of the chamber’s Economic and Monetary Affairs Committee and speaker at the most influential high-frequency trading conference in the world, Golden Networking’s High Frequency Trading Leaders Forum 2013 (http://www.HFT-Leaders-Forum.com) “Strategic and Tactical Insights for Investors, Speed Traders, Brokers and Exchanges,” London, March 21. Ms. McCarthy said she supported the caps as the only way to rein in bankers. But she complained that the Cameron government had failed to win more favorable terms for the City “because of a kind of arrogance” toward its partners in the European Union.

High-Frequency Trading Leaders Forum 2013, “Strategic and Tactical Insights for Investors, Speed Traders, Brokers and Exchanges” (http://www.HFT-Leaders-Forum.com) will bring insights for investors and speed traders who need to protect and refine their competitive advantage in a world dominated by algorithmic and high-frequency trading. Recognized practitioners, regulators, experts, and strategists will return to High-Frequency Trading Leaders Forum 2013 to provide attendees with the information they are looking for in an open and unbiased environment, highly conducive to the most efficient and effective networking.

Topics that will be discussed at High-Frequency Trading Leaders Forum 2013 include the movement toward emerging markets, which is increasingly attuned to the use of bots, and the regulatory environment, specifically how new technologies are changing the game, including a look at the upcoming regulatory changes that undoubtedly will be precipitated by Knight Capital’s trading glitch.

High Frequency Trading Leaders Forum 2013 is produced by Golden Networking (http://www.goldennetworking.net), the premier networking community for business executives, entrepreneurs and investors. Panelists, speakers and sponsors are invited to contact Golden Networking by calling +1-414-FORUMS0 or sending an email to info@goldennetworking.net.

Media Contact:
Julia Petrova
Media Relations Coordinator
Golden Networking
+1-414-FORUMS0
jpetrova@goldennetworking.net
http://www.goldennetworking.net

Newly Appointed Executive Markets Director, AMF, at World’s Most influential London HFT Conference

Golden Networking hosts the World’s Most Influential High-Frequency Trading Conference Series, High Frequency Trading Leaders Forum 2013 London “Strategic and Tactical Insights for Investors, Speed Traders, Brokers and Exchanges”, March 21 (www.High-Frequency-Trading-Conference.com).

New York City, NY, USA (March 12, 2013) — Philippe Guillot the newly appointed Executive Director of the Markets Directorate, Autorité des Marchés Financiers, will be speaker at upcoming, Golden Networking‘s High Frequency Trading Leaders Forum 2013 London, “Strategic and Tactical Insights for Investors, Speed Traders, Brokers and Exchanges”, March 21. The Markets Directorate is a new entity formed in 2011 to monitor the markets, infrastructures and market stakeholders. With a headcount of around 40, it reports to the Asset Management and Markets Directorate, run by Arnaud Oseredczuk. The AMF Markets Division monitors financial markets, infrastructures and market stakeholders.

According to Waters Technology’s Steve Dew-Jones, regulators are giving Mifid I-which increased competition-a vote of confidence, but are also highlighting the increased complexity and unintended consequences that followed the legislation. In this regard, Guillot says that “market microstructure is incredibly fragile and we do not know exactly what will happen when we change it.”

Mr. Guillot added: “If you take the minimum resting time proposition, this is something that is very harsh and there is no way back after you have done it because if you put it at 500 milliseconds, afterward it will be very difficult to say, ‘Oh, maybe we should have put it at 480 or 520.’ Look at what happened in Mifid I. If you decide to create competition, it’s very difficult to come back, and you have lots of unintended consequences.”

Mr. Guillot began his career in finance in 1987 at DKL James Capel (now HSBC), where he held various positions focused on financial markets. In 1991 he joined Enskilda Securities as a market maker, first in Paris then in London. In 1998 he moved to Crédit Agricole Cheuvreux in Paris, taking over as head of Facilitation, before being appointed Group Trading Director in 2006, in Paris then London.

Throughout all these years, Mr. Guillot has played an active role in numerous working groups and market authorities dealing with MiFID issues. He was a member of the Securities Trading Committee of the AFME (Association for Financial Markets in Europe), and represented Cheuvreux with the Regulated Markets and MTF (Multilateral Trading Facilities). Mr. Guillot holds a degree in private law from Paris XI University.

The AMF was established by the Financial Security Act of August 1st 2003, and was formed from the merger of the Commission des Opérations de Bourse (COB), the Conseil des Marchés Financiers (CMF) and the Conseil de Discipline de la Gestion Financière (CDGF). The objective in amalgamating these bodies was to improve the efficiency of France’s financial regulatory system and to give it greater visibility. The AMF also lends its support to financial market regulation at the European and International levels.

Mr. Guillot, 50, began his career in finance in 1987, at DKL James Capel (now HSBC), where he held various positions working on the markets. In 1991 he joined Enskilda Securities as a market maker, first in Paris then in London. In 1998 he moved to Crédit Agricole Cheuvreux in Paris, taking over as head of Facilitation, before being made Group Trading Director in 2006, in Paris then London. Throughout all these years Philippe played an active role in numerous working groups and market authorities dealing with MiFID issues. He was a member of the Securities Trading Committee of the AFME (Association for Financial Markets in Europe), and represented Cheuvreux with the Regulated Markets and MTF (Multilateral Trading Facilities).

High Frequency Trading Leaders Forum 2013 is produced by Golden Networking (http://www.goldennetworking.net), the premier networking community for business executives, entrepreneurs and investors. Panelists, speakers and sponsors are invited to contact Golden Networking by calling +1-414-FORUMS0 or sending an email to info@goldennetworking.net.

Media Contact:
Julia Petrova
Media Relations Coordinator
Golden Networking
+1-414-FORUMS0
jpetrova@goldennetworking.net
http://www.goldennetworking.net

Edgar Perez, High-Frequency Trading Leaders Forum 2013 London Debunks Yuri Milner’s Wishful Thinking

Golden Networking hosts the World’s Most Influential High-Frequency Trading Conference Series, High Frequency Trading Leaders Forum 2013 London “Strategic and Tactical Insights for Investors, Speed Traders, Brokers and Exchanges”, March 21 (www.High-Frequency-Trading-Conference.com).

New York City, NY, USA (March 9, 2013) — Mr. Edgar Perez, author of The Speed Traders and the forthcoming Knightmare on Wall Street and keynote speaker at Golden Networking’s High-Frequency Trading Leaders Forum 2013 London, “Strategic and Tactical Insights for Investors, Speed Traders, Brokers and Exchanges”, March 21, gives Facebook, Wikipedia and Google’s dominant positions only ten years, before new entrants steal their crowns and establish new ways to do business.

In an interview at the South by Southwest Interactive conference in Austin, Texas, Yuri Milner, the Russian investor whose early bet on Mark Zuckerberg’s firm made him a billionaire, had said companies like Facebook, Google and Wikipedia would still exist a century from now because their services gain momentum the more people use them. “All three have amazing network effects,” said Milner, the co-founder and chief executive officer of DST. “Chances are that those are long survivors.”

Milner has long believed that the internet would develop into a “global brain”, which is often described as an intelligent network of individuals and machines, functioning as a nervous system for the planet Earth. He also has envisaged that the advent of the Internet of things and ever increasing use of social media and participatory systems such as Twitter, Facebook, and Wikipedia would increase our collective intelligence.

Richard Foster, the Creative Destruction author referred by Forbes as The Wizard of Innovation and speaker at China Leaders Forum, was in the 80s in a search for “the excellent company”, the all-seeing, all-knowing, all-wise company that made all the right moves in advance, and that made more money for its shareholders than any of its competitors. This was the permanent outperformer stock, the really good deal, he said. Foster looked at 4,000 companies over 40 years; he concluded there was no such company, and there never had been such a company! No company had been able to outperform the market for any substantial length of time. (GE once came as close as any, but didn’t do any better than the overall market index, Foster reflects). Somehow the market, managed by nobody in particular, was performing better than all the brains on the planet.

Why is it that no company can outperform the markets for a long time? Foster thinks there are several reasons, but the most important is something called legacy cost. All companies have legacy costs, which are created the moment a company makes a commitment of time or resources to a particular course of action. And when a company is challenged to do something new, to take a new course of action, it has a hard time abandoning its legacy costs. Companies argue that the incremental cost of making a slight improvement to an existing product or service is much better than the full cost of developing something new from scratch. In doing so, the company attempts to optimize between the old and the new. This takes the decision making power away from the customer, and it’s a bad direction to go in. Markets, however, just charge on ahead with the new, because new entrants don’t have any legacy costs to deal with, says Mr. Perez.

Just last week, Facebook’s new News Feed made some welcome cosmetic changes. But it didn’t go very far in addressing the social network’s deeper issues. Fortune’s Kevin Kelleher talks about the vulnerabilities Facebook is facing since it went public. Facebook is facing more powerful competitors and two important yet sometimes contradictory mandates, to create a service that will engage its users, and to make money that will satisfy investors; Facebook’s presentation played down those facts. How intrusive these ads strike users will depends on the algorithms Facebook designs to insert them in feeds.

So while Facebook’s new news feed makes some cosmetic fixes that users are likely to welcome in time, they don’t go very far in addressing rising competition from newer social networks and the uneasy balancing act between users and advertisers. Those are the legacy costs Foster refers too, which new entrants that will grow into becoming new leaders never face. Legacy costs never stopped Wikipedia and Google from dethroning leading institutions called Britannic Encyclopedia and Yahoo!

For Mr. Perez, to think that new companies will take a century to remove Facebook, Wikipedia or Google from their leadership positions is no more than wishful thinking; these firms have at most 10 years to milk their cows and make the big decision: change or die. While Milner appears not to have a vested interest in Wikipedia or Google, he might as well start cashing in on his already wildly profitable Facebook bet. Somebody in some garage is already building a better mousetrap, Mr. Perez concludes.

High-Frequency Trading Leaders Forum 2013, “Strategic and Tactical Insights for Investors, Speed Traders, Brokers and Exchanges” (http://www.HFT-Leaders-Forum.com) will bring insights for investors and speed traders who need to protect and refine their competitive advantage in a world dominated by algorithmic and high-frequency trading. Recognized practitioners, regulators, experts, and strategists will return to High-Frequency Trading Leaders Forum 2013 to provide attendees with the information they are looking for in an open and unbiased environment, highly conducive to the most efficient and effective networking.

Mr. Perez is widely regarded as the preeminent global expert in the specialized area of high-frequency trading. He is author of The Speed Traders, An Insider’s Look at the New High-Frequency Trading Phenomenon That is Transforming the Investing World, published in English by McGraw-Hill Inc. (2011), published in Mandarin by China Financial Publishing House (2012), and Investasi Super Kilat: Pandangan Orang dalam tentang Fenomena Baru Frekuensi Tinggi yang Mentransformasi Dunia Investasi, published in Bahasa Indonesia by Kompas Gramedia (2012).

Mr. Perez is course director of The Speed Traders Workshop 2012, How High Frequency Traders Leverage Profitable Strategies to Find Alpha in Equities, Options, Futures and FX (Hong Kong, Sao Paulo, Seoul, Kuala Lumpur, Warsaw, Kiev, New York, Singapore, Beijing, Shanghai) and was Adjunct Professor at the Polytechnic Institute of New York University, where he taught Algorithmic Trading and High-Frequency Finance. He contributes to The New York Times and China’s International Finance News and Sina Finance.

Mr. Perez has been interviewed on CNBC Cash Flow, CNBC Squawk Box, BNN Business Day, CCTV China, Bankier.pl, TheStreet.com, Leaderonomics, GPW Media, Channel NewsAsia Business Tonight and Cents & Sensibilities. In addition, Mr. Perez has been featured on Sohu, News.Sina.com, Yicai, eastmoney, Caijing, ETF88.com, 360doc, AH Radio, CNFOL.com, CITICS Futures, Tongxin Securities, ZhiCheng.com, CBNweek.com, Caixin, Futures Daily, Xinhua, CBN Newswire, Chinese Financial News, ifeng.com, International Finance News, hexun.com, Finance.QQ.com, Finance.Sina.com, The Korea Times, The Korea Herald, The Star, The Malaysian Insider, BMF 89.9, iMoney Hong Kong, CNBC, Bloomberg Hedge Fund Brief, The Wall Street Journal, The New York Times, Dallas Morning News, Valor Econômico, FIXGlobal Trading, TODAY Online, Oriental Daily News and Business Times.

Mr. Perez has been engaged to present to the Quant Investment & HFT Summit APAC 2012 (Shanghai), U.S. Securities and Exchange Commission (Washington DC), CFA Singapore, Hong Kong Securities Institute, Courant Institute of Mathematical Sciences at New York University, University of International Business and Economics (Beijing), Hult International Business School (Shanghai) and Pace University (New York), among other public and private institutions. In addition, Mr. Perez has spoken at a number of global conferences, including CME Group’s Global Financial Leadership Conference 2012 (Naples Beach, FL), Harvard Business School’s Venture Capital & Private Equity Conference (Boston), High-Frequency Trading Leaders Forum (New York, Chicago), MIT Sloan Investment Management Conference (Cambridge), Institutional Investor’s Global Growth Markets Forum (London), Technical Analysis Society (Singapore), TradeTech Asia (Singapore), FIXGlobal Face2Face (Seoul) and Private Equity Convention Russia, CIS & Eurasia (London).

Mr. Perez was a vice president at Citigroup, a senior consultant at IBM, and a strategy 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, New York, 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.

High-Frequency Trading Leaders Forum 2013 (http://www.high-frequency-trading-conference.com) is produced by Golden Networking (http://www.goldennetworking.net), the premier networking community for business executives, entrepreneurs and investors. Panelists, speakers and sponsors are invited to contact Golden Networking by sending an email to info@goldennetworking.net.

Media Contact:
Julia Petrova
Media Relations Coordinator
Golden Networking
+1-414-FORUMS0
jpetrova@goldennetworking.net
http://www.goldennetworking.net

Azul Systems to Sponsor HFT Leaders Forum 2013, Most Influential High-Frequency Trading Conference

Golden Networking hosts the World’s Most Influential High-Frequency Trading Conference Series, High Frequency Trading Leaders Forum 2013 London “Strategic and Tactical Insights for Investors, Speed Traders, Brokers and Exchanges”, March 21 (www.High-Frequency-Trading-Conference.com).

New York City, NY, USA (March 9, 2013) — Azul Systems, the award-winning leader in Java runtime scalability, announced its sponsorship of the most influential high-frequency trading conference in the world, Golden Networking’s High Frequency Trading Leaders Forum 2013 London, March 21. Anyone interested or involved in high-frequency trading will be able to gain inside knowledge at High Frequency Trading Leaders Forum 2013 (http://www.High-Frequency-Trading-Conference.com) “Strategic and Tactical Insights for Investors, Speed Traders, Brokers and Exchanges,” which brings insightful keynote speeches and highly regarded panels.

As part of its support for the conference, Mr. David Mills, Director, EMEA, Azul Systems, will be joining the panel “Low Latency: How to achieve Ultra-Low Latency for High-Frequency Trading”. As high-frequency trading moves towards multi-asset classes running multi-legged strategies demanding even faster execution, the panel will look at ultra-low latency performance technologies. How will architectures evolve to meet the latency challenge? How will wireless, cloud and big data technologies play in the speed race? How technology can enable modern applications to minimize latency while managing high throughput?

Azul Systems (http://www.azulsystems.com) delivers standards-based, low latency performance solutions for applications written in Java. Ideal for financial trading, messaging and CEP, Big Data, gaming and eCommerce, Azul’s technology is proven to improve both average and worst case response times for even the most demanding applications. Azul’s Zing JVM is the only solution that makes very large in-memory datasets practical for Java and eliminates the need for JVM tuning.

High-Frequency Trading Leaders Forum 2013 (http://www.High-Frequency-Trading.info) “Strategic and Tactical Insights for Investors, Speed Traders, Brokers and Exchanges” will bring insights for investors and speed traders, who need to protect and refine their competitive advantage in a world dominated by algorithmic and high-frequency trading. Recognized practitioners, regulators, experts, and strategists will return to High-Frequency Trading Leaders Forum 2013 to provide attendees with the information they are looking for in an open and unbiased environment, highly conducive to the most efficient and effective networking.

High Frequency Trading Leaders Forum 2013 is produced by Golden Networking (http://www.goldennetworking.net), the premier networking community for business executives, entrepreneurs and investors. Panelists, speakers and sponsors are invited to contact Golden Networking by calling +1-414-FORUMS0 or sending an email to info@goldennetworking.net.

Media Contact:
Julia Petrova
Media Relations Coordinator
Golden Networking
+1-414-FORUMS0
jpetrova@goldennetworking.net
http://www.goldennetworking.net

The Future of Computer Trading According to Her Majesty’s Foresight Report with Professor Dave Cliff

Golden Networking hosts the World’s Most Influential High-Frequency Trading Conference Series, High Frequency Trading Leaders Forum 2013 London “Strategic and Tactical Insights for Investors, Speed Traders, Brokers and Exchanges”, March 21 (www.High-Frequency-Trading-Conference.com).

New York City, NY, USA (March 8, 2013) — “What the Foresight Report Tell us About the Future of Computer Trading in Financial Markets” is the topic of closing keynote speaker professor Dave Cliff, Department of Computer Science, University of Bristol and Foresight Project Member of the Lead Expert Group on Algorithmic Trading, at the most influential high-frequency trading conference in the world, Golden Networking’s High Frequency Trading Leaders Forum 2013 London, “Strategic and Tactical Insights for Investors, Speed Traders, Brokers and Exchanges”, March 21 (http://www.High-Frequency-Trading-Conference.com).

Advances in technology continue to transform how our financial markets operate. The volume of financial products traded through computer automated trading taking place at high speed and with little human involvement has increased dramatically in the past few years. For example, today, over one third of United Kingdom equity trading volume is generated through high frequency automated computer trading while in the US this figure is closer to three-quarters.

The new two-year Foresight study The Future of Computer Trading in Financial Markets – An International Perspective, sheds new light on technological advances which have transformed market structures in recent years. The independent and international study has involved 150 leading experts from more 20 countries to provide the best possible analysis on computer trading to date. The aim of this project is to make a significant contribution to the challenges computer-based trading brings in the coming years and capitalize on the opportunities it has to offer.

It assembles and analyses evidence on the effect of HFT on financial markets looking out to 2022. A High Level Stakeholder Group, comprised of senior individuals from relevant institutions, provided strategic oversight for the project and advised on the key issues to be addressed.

Sponsored by Her Majesty’s Treasury, the project was led by the Government Office for Science under the direction of the Government’s Chief Scientific Adviser, Professor Sir John Beddington. It has involved leading experts, among them, Professor Cliff, member of the computer science team at the University of Bristol and Director of the UK Large Scale Complex IT Systems Initiative. Professor Cliff is the inventor of the seminal “ZIP” trading algorithm, one of the first of the current generation of autonomous adaptive algorithmic trading systems, which was demonstrated to outperform human traders in research published in 2001 by IBM.

High-Frequency Trading Leaders Forum 2013 (http://www.High-Frequency-Trading-Conference.com) “Strategic and Tactical Insights for Investors, Speed Traders, Brokers and Exchanges” will bring insights for investors and speed traders, who need to protect and refine their competitive advantage in a world dominated by algorithmic and high-frequency trading. Recognized practitioners, regulators, experts, and strategists will return to High-Frequency Trading Leaders Forum 2013 to provide attendees with the information they are looking for in an open and unbiased environment, highly conducive to the most efficient and effective networking:

– Professor Alex Preda, Professor of Accounting, Accountability and Financial Management, King’s College

– Ms. Arlene McCarthy, Vice Chair – Economics and Monetary Affairs Committee and Draftsperson, Market Abuse Directive, European Parliament

– Mr. Axel Pierron, Sr. VP, Securities & Investments, Celent

– Ms. Carol Clark, Sr. Policy Specialist, Federal Reserve Bank of Chicago

– Mr. Chris Skinner, Chairman, Financial Services Club

– Professor Daniel Beunza, Lecturer, London School of Economics

– Professor Dave Cliff, Department of Computer Science, University of Bristol

– Mr. David Mills, Sales Director EMEA, Azul Systems

– Mr. Edgar Perez, Author, The Speed Traders

– Mr. Giovanni Beliossi, Managing Partner, FGS Capital

– Mr. Hirander Misra, Chairman, Forum Trading Solutions

– Ms. Izabella Kaminska, Blogger, FT Alphaville

– Professor Juan Pablo Pardo-Guerra, Lecturer, London School of Economics

– Dr. Magrino Bini, Statistical Arbitrage Portfolio Manager, Millennium Partners

– Mr. Philip Stafford, FT Trading Room Deputy Editor, Financial Times

– Professor Philip Treleaven, Director, PhD, Centre in Financial Computing, UCL

– Mr. Philippe Guillot, Executive Director of the Markets Division, Autorité des Marchés Financiers (AMF)

– Mr. Sam Tyfield, Partner, Vedder Price, P.C.

– Mr. Stuart Theakston, Head of Research and Automated Trading, GLC

– Dr. Tommi A. Vuorenmaa, Head of Research & Trading, Valo Research and Trading

– Mr. VJ Angelo, Director, Global Markets Exchange Group

– Professor Walter Distaso, Professor of Financial Econometrics, Imperial College London

High Frequency Trading Leaders Forum 2013 is produced by Golden Networking (http://www.goldennetworking.net), the premier networking community for business executives, entrepreneurs and investors. Panelists, speakers and sponsors are invited to contact Golden Networking by calling +1-414-FORUMS0 or sending an email to info@goldennetworking.net.

Media Contact:
Julia Petrova
Media Relations Coordinator
Golden Networking
+1-414-FORUMS0
jpetrova@goldennetworking.net
http://www.goldennetworking.net

Global HFT Expert Edgar Perez, Keynote Speaker at High-Frequency Trading Leaders Forum 2013 London

Golden Networking hosts the World’s Most Influential High-Frequency Trading Conference Series, High Frequency Trading Leaders Forum 2013 London “Strategic and Tactical Insights for Investors, Speed Traders, Brokers and Exchanges”, March 21 (www.High-Frequency-Trading-Conference.com).

New York City, NY, USA (March 8, 2013) — Mr. Edgar Perez, author of The Speed Traders and the forthcoming Knightmare on Wall Street, will keynote Golden Networking’s High-Frequency Trading Leaders Forum 2013 London, “Strategic and Tactical Insights for Investors, Speed Traders, Brokers and Exchanges”, March 21, forum that will provide attendees in London with the most up-to-date review of where this ever-changing industry stands through an inspiring keynote speeches and thought-provoking panels with leaders in the field:

– Professor Alex Preda, Professor of Accounting, Accountability and Financial Management, King’s College

– Ms. Arlene McCarthy, Vice Chair – Economics and Monetary Affairs Committee and Draftsperson, Market Abuse Directive, European Parliament

– Mr. Axel Pierron, Sr. VP, Securities & Investments, Celent

– Ms. Carol Clark, Sr. Policy Specialist, Federal Reserve Bank of Chicago

– Mr. Chris Skinner, Chairman, Financial Services Club

– Professor Daniel Beunza, Lecturer, London School of Economics

– Professor Dave Cliff, Department of Computer Science, University of Bristol

– Mr. David Mills, Sales Director EMEA, Azul Systems

– Mr. Giovanni Beliossi, Managing Partner, FGS Capital

– Mr. Hirander Misra, Chairman, Forum Trading Solutions

– Ms. Izabella Kaminska, Blogger, FT Alphaville

– Professor Juan Pablo Pardo-Guerra, Lecturer, London School of Economics

– Dr. Magrino Bini, Statistical Arbitrage Portfolio Manager, Millennium Partners

– Mr. Philip Stafford, FT Trading Room Deputy Editor, Financial Times

– Professor Philip Treleaven, Director, PhD, Centre in Financial Computing, UCL

– Mr. Philippe Guillot, Executive Director of the Markets Division, Autorité des Marchés Financiers (AMF)

– Mr. Sam Tyfield, Partner, Vedder Price, P.C.

– Mr. Stuart Theakston, Head of Research and Automated Trading, GLC

– Dr. Tommi A. Vuorenmaa, Head of Research & Trading, Valo Research and Trading

– Mr. VJ Angelo, Director, Global Markets Exchange Group

– Professor Walter Distaso, Professor of Financial Econometrics, Imperial College London

High-Frequency Trading Leaders Forum 2013, “Strategic and Tactical Insights for Investors, Speed Traders, Brokers and Exchanges” (http://www.HFT-Leaders-Forum.com) will bring insights for investors and speed traders who need to protect and refine their competitive advantage in a world dominated by algorithmic and high-frequency trading. Recognized practitioners, regulators, experts, and strategists will return to High-Frequency Trading Leaders Forum 2013 to provide attendees with the information they are looking for in an open and unbiased environment, highly conducive to the most efficient and effective networking.

Topics that will be discussed at High-Frequency Trading Leaders Forum 2013 (http://www.HFT-Leaders-Forum.com) include the movement toward emerging markets, every time more attuned to the use of bots, the regulatory environment, how new technologies are changing the game, including a look at the upcoming regulatory changes that no doubt will be precipitated by Knight Capital’s trading glitch.

Mr. Perez is widely regarded as the preeminent global expert in the specialized area of high-frequency trading. He is author of The Speed Traders, An Insider’s Look at the New High-Frequency Trading Phenomenon That is Transforming the Investing World, published in English by McGraw-Hill Inc. (2011), published in Mandarin by China Financial Publishing House (2012), and Investasi Super Kilat: Pandangan Orang dalam tentang Fenomena Baru Frekuensi Tinggi yang Mentransformasi Dunia Investasi, published in Bahasa Indonesia by Kompas Gramedia (2012).

Mr. Perez is course director of The Speed Traders Workshop 2012, How High Frequency Traders Leverage Profitable Strategies to Find Alpha in Equities, Options, Futures and FX (Hong Kong, Sao Paulo, Seoul, Kuala Lumpur, Warsaw, Kiev, New York, Singapore, Beijing, Shanghai) and was Adjunct Professor at the Polytechnic Institute of New York University, where he taught Algorithmic Trading and High-Frequency Finance. He contributes to The New York Times and China’s International Finance News and Sina Finance.

Mr. Perez has been interviewed on CNBC Cash Flow, CNBC Squawk Box, BNN Business Day, CCTV China, Bankier.pl, TheStreet.com, Leaderonomics, GPW Media, Channel NewsAsia Business Tonight and Cents & Sensibilities. In addition, Mr. Perez has been featured on Sohu, News.Sina.com, Yicai, eastmoney, Caijing, ETF88.com, 360doc, AH Radio, CNFOL.com, CITICS Futures, Tongxin Securities, ZhiCheng.com, CBNweek.com, Caixin, Futures Daily, Xinhua, CBN Newswire, Chinese Financial News, ifeng.com, International Finance News, hexun.com, Finance.QQ.com, Finance.Sina.com, The Korea Times, The Korea Herald, The Star, The Malaysian Insider, BMF 89.9, iMoney Hong Kong, CNBC, Bloomberg Hedge Fund Brief, The Wall Street Journal, The New York Times, Dallas Morning News, Valor Econômico, FIXGlobal Trading, TODAY Online, Oriental Daily News and Business Times.

Mr. Perez has been engaged to present to the Quant Investment & HFT Summit APAC 2012 (Shanghai), U.S. Securities and Exchange Commission (Washington DC), CFA Singapore, Hong Kong Securities Institute, Courant Institute of Mathematical Sciences at New York University, University of International Business and Economics (Beijing), Hult International Business School (Shanghai) and Pace University (New York), among other public and private institutions. In addition, Mr. Perez has spoken at a number of global conferences, including CME Group’s Global Financial Leadership Conference 2012 (Naples Beach, FL), Harvard Business School’s Venture Capital & Private Equity Conference (Boston), High-Frequency Trading Leaders Forum (New York, Chicago), MIT Sloan Investment Management Conference (Cambridge), Institutional Investor’s Global Growth Markets Forum (London), Technical Analysis Society (Singapore), TradeTech Asia (Singapore), FIXGlobal Face2Face (Seoul) and Private Equity Convention Russia, CIS & Eurasia (London).

Mr. Perez was a vice president at Citigroup, a senior consultant at IBM, and a strategy 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, New York, 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.

High-Frequency Trading Leaders Forum 2013 (http://www.high-frequency-trading-conference.com) is produced by Golden Networking (http://www.goldennetworking.net), the premier networking community for business executives, entrepreneurs and investors. Panelists, speakers and sponsors are invited to contact Golden Networking by sending an email to info@goldennetworking.net.

Media Contact:
Julia Petrova
Media Relations Coordinator
Golden Networking
+1-414-FORUMS0
jpetrova@goldennetworking.net
http://www.goldennetworking.net