Author - EdgarAdmin

SINA FINANCE: 速度與策略決定高頻交易成敗

2008年金融危機以來,許多對沖基金紛紛倒閉,投資者們也謹慎地捂緊錢袋,然而,有一種交易模式卻在不斷擴張,以它為商業模式的基金也如雨後春筍,這就是高頻交易(High-Frequency Trading)。這種盈利模式的核心競爭力在哪裏,前景又如何? (more…)

Regulate High-Frequency Trading in Real Time

Edgar Perez, the author of “The Speed Traders: An Insider’s Look at the New High-Frequency Trading Phenomenon That Is Transforming the Investing World” and the forthcoming “Knightmare on Wall Street: Do Facebook’s Botched IPO and Knight Capital’s Technology Error Mark the Beginning of the End of Equities Investing?,” leads The Speed Traders Workshop 2012. He is on Twitter and Weibo. (more…)

Open Letter to SEC Chairman Mary Jo White: Maintaining the Standing of the U.S. as the World’s Most Sophisticated Financial and Trading Market

NASDAQ suffered a trading freeze on August 22, when price quotes were not being disseminated by the Securities Information Processor (SIP) for three hours. While NASDAQ has promised to work with other exchanges that are members of the SIP to come up with permanent fixes, their time to self-police has passed.
Dear chairman Mary Jo White. (more…)

SINA FINANCE: 华尔街噩梦:骑士资本兴亡与金融市场最大风险

美国纽约大学金融系教授、高频交易专家埃德加-佩雷兹所著《华尔街噩梦:骑士资本兴亡与金融市场最大风险》(Knightmare on Wall Street: The Rise and Fall of Knight Capital and the Biggest Risk for Financial Markets)一书对骑士资本公司的兴亡进行幕后审视。本书全面叙述了骑士资本如何成为20世纪90年代末投资革命中的弄潮儿,如何奋力度过繁荣与萧条,以及公司衰落、最终被竞争对手收购的不光彩命运。 (more…)


THE combined forces of speed and technology are turning the stock market into a different animal from the days of our fathers and mothers with small retail players being the casualties of the sweeping changes, particularly in the West. This is the dark side of technology which cannot be ignored but which must be managed by regulators. (more…)