Capital Markets Consortium brings together participants from different segments of the industry to discuss common challenges and exchange ideas via cutting-edge educational and networking events that don’t eat up your budget or schedule. Join our relaxed, information-packed breakfast and luncheon conferences to connect with your peers and keep up-to-date on the complex challenges facing the capital markets industry.
Upcoming Events
May 24, 2012, New York City
On May 6, 2010, in a matter of minutes, the equities and derivatives markets fell $1 trillion, yet it took the Securities and Exchange Commission five months to explain the "flash crash". In response, the SEC accelerated work on its proposed Consolidated Audit Trail, or CAT, a system that would permit the SEC to see all orders placed on all exchanges and identify which firm originated and placed a particular order. The principal subjects of CAT surveillance would be the electronic trading systems engaged in high frequency trading, or HFT, commonly regarded as the root cause of the flash crash.
In a speech he gave on January 31, 2012, Commissioner Scott O'Malia of the Commodities Futures Exchange Commission, referring the CFTC's Technology Advisory Committee, observed that among its members there was little or no understanding of the trading patterns on our markets and there was no consensus of what constituted automated trading, algorithmic trading and high frequency trading. He noted that this lack of consensus concerning how each type of trading affects our markets hobbles public debate. It also calls into question whether, in our regulatory response to the flash crash, the proposed responses to the flash crash, for example, the SEC's CAT, are addressing the risks and challenges of the various types of electronic trading.
This event, following on Commissioner O'Malia's comments about the nature and regulation of HFT, will discuss the distinctions among the different types of electronic trading, the nature of the risks each type of trading introduces to the securities markets and the development and proposed implementation of the SEC's CAT as a regulatory response to the challenges of electronic trading.
Recent Event Recordings
Complying with Cost Basis Legislation: The Issues and Challenges for Banks, Brokers and Mutual Funds
State of the Hedge Fund Industry
Hedge Funds - Getting to the Next Level
Algos Gone Wild: Electronic Trading Risk
Collateral Management: Toward a New Paradigm
High Frequency Trading: Market Structure, Technology & Regulation