Former McKinsey Consultant to Host GoldenNetworking.net's High-Frequency Trading Leaders Forum 2010 and Monthly High-Frequency Trading Happy Hour
Edgar Perez, Former McKinsey Consultant, Hosting High-Frequency Trading Happy Hour, May 3rd, and High-Frequency Trading Leaders Forum 2010, May 27th, both in New York City
New York, NY, April 27, 2010 --(PR.com)-- Edgar Perez, former McKinsey consultant in their New York office, is hosting 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, Flatotel Hotel, in addition to the monthly High-Frequency Trading Happy Hour, (http://www.HFTHappyHour.com), scheduled for May 3rd, Johnny Utah's, both in New York City; both events are set to attract hundreds of high-frequency trading managers, investors and professionals for enlightening knowledge sessions and power networking.
A recent Reuters News article, "Who’s afraid of high-frequency trading?," provided insights on High-Frequency Trading and its growing influence in equity, fixed income and futures markets. "High-Frequency Trading now accounts for 60 percent of total U.S. equity volume, and is spreading overseas and into other markets. Yet critics worry fast trading may undermine the integrity of the U.S. equity market, a bastion of capitalism and corporate America, and could even spark another financial crisis. The revolution has caught some people off guard, and has led to deep concerns. Many institutional money managers are uneasy about how the fast traders anticipate their transactions, and worry that there might be information leakage about their trading intentions — a critical issue for asset managers. 'High-frequency trading, fundamentally, when you look at what their algorithms are finding, they're almost a structured way of trying to front-run,'" said Jim McCaughan, chief executive of the asset management arm of Principal Financial Group, where he oversees about $215 billion in assets. "That just seems to me ultimately as doing it at the expense of other investors," he said. McCaughan said he had no proof of wrongdoing, yet he suspected it is quite likely the leaking of information may have happened. "If it has, it would at best be unfair to other investors and perhaps criminal," he said.
Journalists Herbert Lash and Jonathan Spicer continue: "Key to any discussion of high-frequency trading is the tape, which records the price, time, size and order of trades. It’s the day’s financial narrative, and its availability is held up as a major reason why the U.S. equity markets are trusted for their transparency and fairness. The tape is also highly prized by traders, who base their computer instructions, called algorithms, on this data. The Nasdaq Stock Market produces about 50 gigabytes of information every day, which is measured in nanoseconds — or a billionth of a second. 'By just reading the tape you can see a lot of what the other guys are doing. You can see who is successful. So eventually everyone is operating more or less the same strategy,' said Louis Liu, the 37-year-old founder of Lotus Capital Management LP."
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:
· High-Frequency Trading Happy Hour, (http://www.HFTHappyHour.com), May 3rd, 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 GoldenNetworking.net by sending an email to eperezs@optonline.net. 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).
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A recent Reuters News article, "Who’s afraid of high-frequency trading?," provided insights on High-Frequency Trading and its growing influence in equity, fixed income and futures markets. "High-Frequency Trading now accounts for 60 percent of total U.S. equity volume, and is spreading overseas and into other markets. Yet critics worry fast trading may undermine the integrity of the U.S. equity market, a bastion of capitalism and corporate America, and could even spark another financial crisis. The revolution has caught some people off guard, and has led to deep concerns. Many institutional money managers are uneasy about how the fast traders anticipate their transactions, and worry that there might be information leakage about their trading intentions — a critical issue for asset managers. 'High-frequency trading, fundamentally, when you look at what their algorithms are finding, they're almost a structured way of trying to front-run,'" said Jim McCaughan, chief executive of the asset management arm of Principal Financial Group, where he oversees about $215 billion in assets. "That just seems to me ultimately as doing it at the expense of other investors," he said. McCaughan said he had no proof of wrongdoing, yet he suspected it is quite likely the leaking of information may have happened. "If it has, it would at best be unfair to other investors and perhaps criminal," he said.
Journalists Herbert Lash and Jonathan Spicer continue: "Key to any discussion of high-frequency trading is the tape, which records the price, time, size and order of trades. It’s the day’s financial narrative, and its availability is held up as a major reason why the U.S. equity markets are trusted for their transparency and fairness. The tape is also highly prized by traders, who base their computer instructions, called algorithms, on this data. The Nasdaq Stock Market produces about 50 gigabytes of information every day, which is measured in nanoseconds — or a billionth of a second. 'By just reading the tape you can see a lot of what the other guys are doing. You can see who is successful. So eventually everyone is operating more or less the same strategy,' said Louis Liu, the 37-year-old founder of Lotus Capital Management LP."
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:
· High-Frequency Trading Happy Hour, (http://www.HFTHappyHour.com), May 3rd, 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 GoldenNetworking.net by sending an email to eperezs@optonline.net. 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).
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Edgar Perez
516-761-4712
http://www.GoldenNetworking.net
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