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Alternative Market Briefing

CTAs consider the future at Battle of the Quants

Thursday, May 26, 2016

Bailey McCann, Opalesque New York:

Quantitative finance is having something of a moment. Investors are moving back into quantitative strategies as they look for ways to find yield in a low growth market environment. Some are also attracted by the prospects of machine learning, big data and how those technologies could lead to new trading ideas. Yesterday, quantitative finance insiders gathered at the Battle of the Quants in New York to consider what these new developments mean for the industry.

Pick whichever technical term you want - machine learning, neural networks, deep learning, all of these ideas have been around since the 1980s or earlier. But only recently, have technologists developed the kind of computing power necessary to make machine learning economical. Now that high-performance computing has gone mainstream, algorithms created through machine learning are finding their way into trading strategies. Still, we're a far cry from a rise of the robots. Panelists and attendees at Wednesday's event seemed to take a more philosophical view of how these newly revived forms of artificial intelligence can and should play a role in trading decisions.

Who gets to control the code?

Regulation - a perennial topic at every finance event also came up during Battle of the Quants, but in a new way. The CFTC recently started requiring quants to provide them with a copy of their trading algorithms - a move which has raised questions about the protection......................

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