High-Frequency Technology-Driven Trading: The Next Horizons
November 22, 2011: 6:00 PM - 9:00 PM
In this increasingly high-frequency trading environment, what developments in trading methodologies are on the horizon to continue to solve this inherent issue? How are these developments being deployed in trading strategies? How is data being collected and analyzed differently to identify trading opportunities? Our speaker will discuss some of the latest research in trading decision science and offer ideas for future market developments. Drawing on studies by Chicago Booth professors and other academicians, details of iterative learning processes and advances in optimization models will be examined.
450 North Cityfront Drive
Statistical arbitragers, algorithmic execution traders and electronic market makers use a great deal of high level engineering in their approaches. Engineers have a very difficult time with non-linearity, so trading methodologies of high-frequency and low latency trading must be carefully constructed to allow traders to implement strategies to capture short term and small inefficiencies in the market. More specifically, high-frequency and low latency trading strategies cut time periods into small enough slice so that in a particular time slice, the data becomes linear enough for a trading model. As the time horizon grows longer, uncertainty is compounded by the latency of price and volume quotes. Significant latency in a quotation delivery system will result in an ineffective market making operation.
Open to non-Alumni
Adam Afshar (Panelist) '01
President, Hyde Park Global Investments LLC
Adam Afshar has over 2 decades of financial industry experience including 12 years at Bear Stearns where he was a Managing Director, overseeing long/short multi asset portfolios for both onshore and offshore clients. Hyde Park Global Investments is a 100% robotic investment and trading firm based on Artificial Intelligence (AI). The system is built primarily on Genetic Algorithms (GA) and other evolutionary models to identify mispricings, arbitrage and patterns in electronic financial markets. Additionally, Hyde Park Global Investments has developed programs applying natural language processing and sentiment analytics to trade equities and spot forex based on machine readable news.
Adam Afshar has served on the finance committee of the board of trustees of Wofford College and is currently member of the Board of Directors of Ariana Pharma in Paris, France. Ariana is a leading Artificial Intelligence company, focused on transforming data into information to accelerate the discovery, development process and safety of pharmaceutical drugs. Ariana is located in central Paris, and is a spinoff of the Institut Pasteur. Adam Afshar has a BA in Economics from Wofford College and received his MBA from the University of Chicago Booth School of Business.
Steve Bright (Panelist) '00
Vice President of Quantitative Research, Hyde Park Global Investments LLC
Steve Bright oversees the team that develops the proprietary mathematical algorithms of Hyde Park Global Investments. Prior to joining Hyde Park Global, Steve was a consultant with the Boston Consulting Group.
Steve Bright has a BS in Physics from the Georgia Institute of Technology, and earned his MS and Ph.D. in Physics from the University of Chicago.
Vern Broders, '94
General Director of Marketing, Gentry Partners Ltd.
The GSB Alumni Finance Roundtable Committee
Vern Broders, '94
Kevin Clarke, '08
Michael Fisch, '02
Scott Kemper, '06
Guy Lakonishok, '09
John Salvino, '06
Rich Thoroe, '07
Dustin Weinberger, '06