Modern Financial Markets: The Role of High Frequency Trading
Tuesday, April 19, 2016 from 6:00 PM to 8:00 PM (EDT)
San Francisco, California
London, United Kingdom
A panel discussion featuring:
Adam Clark-Joseph, University of Illinois
Lawrence Glosten, Columbia Business School
Terrence Hendershott, Haas School of Business, UC Berkeley
Sophie Moinas, Toulouse School of Economics
Matthew Trudeau, IEX
Moderated by Merritt Fox, Columbia Law School
Introduction by Yeon-Koo Che, Columbia University Economics
Long gone are the brokers and specialists calling out orders on trading floors. Modern financial markets are powered by electronic matching engines operated by numerous exchanges and dark pools. Central players in this new financial architecture are high-frequency traders (HFTs) characterized by algorithmic
implementation of trading strategies, very short holding periods, limited directional exposure, exchange co-location, proprietary data feeds, and high speed communication infrastructures. What purpose do HFTs serve? Are they primarily sources of liquidity and price discovery, or do they siphon off profits that would otherwise accrue to long term investors. Who is ultimately paying for their investments in speed? What are the possible
reforms? A panel of academic and industry experts will seek to shed light on these issues.
A reception will follow the panel discussion.
Directions to Jerome Greene Hall are available here.
When & Where
The Program for Economic Research and SIPA, Columbia University
The Program for Economic Research (PER) was formed to enhance and to develop resources to support the research and teaching mission of the Department of Economics at Columbia University. The Program organizes conferences, symposia, and public programming, and it conducts outreach to foster an interchange of ideas between the economics faculty and the business and policy worlds.
For 70 years, Columbia University’s School of International and Public Affairs has been educating professionals who work in public, private and nonprofit organizations to make a difference in the world. Through rigorous social science research and hands-on practice, SIPA’s graduates and faculty strive to improve social services, advocate for human rights, strengthen markets, protect the environment, and secure peace, in their home communities and around the world.