Why Should I Urgently Schedule The Speed Traders Workshop 2012 Vienna?

Posted on September 13, 2012. Filed under: Exchanges, Flash Crash, Regulations, Securities and Exchange Commission, Workshop | Tags: Austria, Austrian National Bank, BATS Trading, CNBC, Columbia Business School, Edgar Perez, European Central Bank, Ewald Nowotny, Facebook IPO, Flash Crash, Harvard Business School, High-Frequency Trading Book, High-Frequency Trading Conference, High-Frequency Trading Seminar, high-speed trades, Knight Capital, proprietary trading, Quantitative Trading, regulatory conference, Reuters, Securities and Exchange Commission, The Speed Traders, The Speed Traders Workshop, The Speed Traders Workshop 2012, Vienna |

No other than European Central Bank policymaker Ewald Nowotny called today for a regulatory ban on high-frequency trading, saying the technique of using computer algorithms to generate multiple high-speed trades had no practical value.

Reading the note from Reuters made me wonder whether Mr. Nowotny had thought about the consequences of a potential ban, when the technique already has more than 50% participation of equities trading in the continent.

“With high-frequency trading there is nothing to be regulated, it is to be banned. There is no really demonstrable net advantage from this (form of trading),” he told a panel discussion at a regulatory conference.

Mr. Nowotny, who heads the Austrian National Bank, would certainly benefit from attending one of my workshops. While I only have New York, September 25, Chicago, October 9, Dubai, October 14, Jakarta, November 16, Shanghai, November 22, and London, December 12, in my calendar for the year, I am faced with the urgent need to take my slides to Austria and add some light where darkness seems to be reigning; at least, I might schedule a stop in the Kitzbühel Alps.

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