El Banco de la Reserva Federeal de Chicago (Chicago FED) en uno de sus usuales ensayos trata el tema de High Frequency Trading (HFT), Controlling Risk in a Lightning-Speed Trading Environment
A handful of high-frequency trading firms accounted for an estimated 70 percent of overall trading volume on U.S. equities markets in 2009. One firm with such a computerized system traded over 2 billion shares in a single day in October 2008, amounting to over 10 percent of U.S. equities trading volume for the day. What are the advantages and disadvantages of this technology-dependent trading environment, and how are its risks controlled?
El trabajo hace hincapié en las posibles perdidas ocasionadas por este tipo de trading:
The high-frequency trading environment has the potential to generate errors and losses at a speed and magnitude far greater than that in a floor or screen-based trading environment.
Para terminar, la bibliografia de este ensayo no tiene desperdicio, cita un paper realizado en el 2007 llamado Does Algorithmic Trading improve Liquidity? y una nota periodistica, tambien del 2007, Error in Singapore Forced Unwinding of 110,000 trades.
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