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Nicolas Kageneck Benedicte Gravrand, Opalesque Geneva: Participants at the recent Opalesque France Roundtable discussed liquidity, and volatility levels, and the effect that high frequency trading has on them.
"We have experienced a particularly active market in the last months, global market volatility being on the rise, which is positive for our products overall and for the equity index segment in particular," said Nicolas Kageneck, from Eurex Exchange which is part of Deutsche Börse Group. "Investors and traders have increased their hedging and trading activities, which has led to greater liquidity and larger open interest in our products."
Arnaud Chretien, founder and CIO of Aequam Capital, a systematic quantitative asset manager, commented on the extreme volatility that comes from super high frequency trading groups, who are pushing the markets. This could be seen in some stocks’ extreme intraday moves, in the currency sector, and increasingly in the interest rates sector and in the commodities sector. It might create opportunities but it is still a challenge for everyone.
After Dodd-Frank, investment banks have been reducing their prop desk activities, leading to the strong growth of high frequency trading, said Julien Sureau, CEO and founding partner of Puzzle Capital, which runs a fund of funds and merger arbitrage strategies.
And those trader...................... To view our full article Click here
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