The Anatomy of a High-Frequency Trader: Human and Machine Proportions
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THE ANATOMY OF A HIGH-FREQUENCY TRADER: HUMAN AND MACHINE PROPORTIONS Tommi A. Vuorenmaa, PhD 25th November, 2014 [email protected] Presentation @ CFA Society Finland Seminar in Helsinki, Finland
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Transcript of The Anatomy of a High-Frequency Trader: Human and Machine Proportions
THE ANATOMY OFA HIGH-FREQUENCY TRADER:
HUMAN AND MACHINE PROPORTIONS
Tommi A. Vuorenmaa, PhD25th November, 2014
Presentation
@ C
FA Society
Finland Sem
inarin H
elsinki, Finland
Authorizationrequirement*
System and risk controls
Identificationof algorithms
Order-to-trade ratio
BaFin
AN EXAMPLE
*In Germany, HFT techniques are characterized by: 1) Use oflatency minimizing infrastructure, 2) a system without humanintervention, and 3) high message intra-day rates.
Tommi A. Vuorenmaa 2014