Tue, Sep 16, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

High frequency trading rules in Germany - comments by Eurex and Simmons & Simmons

Friday, August 24, 2012
Opalesque Industry Update: "You could almost have the impression high-frequency trading has become a public enemy, not just in Germany but also in France and other European countries. As a result, in Germany and beyond the concept of “slowing down the market” has become very popular," said Dr. Randolf Roth, Head of Market Structure, Eurex, in our recent Opalesque Frankfurt Roundtable.

Skynet is a fictional, self-aware artificial intelligence system which features centrally in the Terminator films and serves as the main antagonist of Arnold Schwarzenegger. Skynet's operations are almost exclusively performed by war-machines and other computer systems, with its ultimate goal the extinction of the human race. This picture or something similar might be crossing the minds of many people hearing about high frequency or, more generally, algorithmic trading. Join us for a breakfast briefing session on German developments regarding high frequency and algorithmic trading.

Date: Tuesday 11 September 2012

Time: 08:30 – 08:45 registration  08:45 - 09:45 sessionTime:

Location: CityPoint, One Ropemaker Street, London EC2Y 9SS

The strategy behind Skynet's creation in the film was to remove the possibility of human error and slow reaction time to guarantee a fast, efficient response to enemy attack. Although the avoidance of human error and the reduction of reaction time (latency) are two of the main reasons for the surge in high frequency trading ("HFT"), this is where the similarity to the film ends. HFT traders try to make use of market inefficiencies and arbitrage opportunities and do not fight any enemies.

The fear of algorithms getting out of control and damaging legitimate markets, rather than the fear of a nuclear war, was probably the reason behind the German government's latest legislative proposal aiming to curb HFT and algorithmic trading. The draft "act for the prevention of risks and the abuse of high frequency trading", published almost to the day 15 years after Skynet's awakening, targets specific risks identified by the government in connection with HFT at German trading venues.

During this session we will discuss, together with Dr. Randolf Roth, Executive Director Market Structure, Eurex Frankfurt AG the details of this proposal, its immediate effects in and outside Germany, how the draft compares to proposed legislation at EU level and whether it will be able to de-activate the T-1000.

Your presenters will be Dr. Randolf Roth from Eurex Germany, Jochen Kindermann and Robert Koller from Simmons & Simmons.

If you have a colleague who is interested in attending please contact Nancy Evans at Simmons & Simmons.

BM

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - Big hedge funds show interest in Alibaba, Maglan joins other hedge funds in rush to Argentinian assets[more]

    Big hedge funds show interest in Alibaba From Hereisthecity.com: …Three other major hedge fund investors who have shown interest in the IPO are Dan Loeb of Third Point, David Tepper of Appaloosa Management and Dan Benton of Andor Capital Management. All three were among the roughly 800 p

  2. Investors looking at other sources for hedge fund-like returns[more]

    Komfie Manalo, Opalesque Asia: Investors who are always on the lookout for higher gains are looking at alternative sources of income, particularly exchange-traded fund industry that generates hedge fund-like returns, according to

  3. …And Finally – Immature[more]

    From Newsoftheweird.com: Princeton University professor John Mulvey, 67 (who teaches financial engineering applications), was charged in July with stealing 21 yard signs around the town of Princeton -- signs for a computer repair business owned by a man with whom he was feuding. Nathan McCoy,

  4. Investors move capital out of Scotland ahead of referendum[more]

    Benedicte Gravrand, Opalesque Geneva: Ahead of Scotland’s independence referendum on September 18, asset managers, investors and pension savers are moving billions of pounds out of the country,

  5. Indices - Greenwich Global Hedge Fund Index up 1.57% in August (+4.22% YTD), Eurekahedge Hedge Fund Index rebounds in August gaining 1.36% (4.22%), Lyxor Hedge Fund Index was up 0.9% in August (YTD +1.7%)[more]

    Greenwich Global Hedge Fund Index up 1.57% in August (+4.22% YTD) The Greenwich Global Hedge Fund Index ended the month of August up +1.57%. Equity markets were up in August with the MSCI World Index up +2.00%. This was primarily driven by the performance of the S&P 500 which was up +4.