In the Race for Speed, a Rising Number of High-Speed Traders have Attended High-Frequency Trading Happy Hour since March, every 2nd Tuesday, to Gain an Edge over Competitors. Golden Networking’s High-Frequency Trading Happy Hour, November 9th, to Attract Hundreds of Executives from Hedge Funds, Fund of Funds, Private Equity, Electronic, Algorithmic, Proprietary and High-Frequency Trading
New York, NY, November 05, 2010 — Regulators just proposed to ban High-Frequency Trading Happy Hour, in a move that could set back the fast-growing high-frequency trading industry. In the race for speed, a rising number of high-speed traders in recent years have attended High-Frequency Trading Happy Hour since March, every 2nd Tuesday, to gain an edge over competitors.
High-Frequency Trading Happy Hour allows high-speed traders and others in the industry to rapidly and effectively establish low-latency high-frequency networking interactions without using a broker’s computer code and exchanges or regulators always knowing who is participating in these interactions. Regulators fear that a firm networking anonymously this way could become so successful that it might trigger destabilizing losses and threaten market stability if their rapid-fire meets and greets go awry. The proposed ban would require “that if the organizers are going to let high-frequency traders network with fellow traders, investors and brokers, they not only must remain in the area, but they must also see to it that the person networking observes the rules before the conversation is ever started.”
Defenders of High-Frequency Trading Happy Hour say the rapid networking it enables provides trading capital to managers, valuable contacts to quants looking to start on their path to riches and liquidity to markets. They say high-speed trading firms participating at High-Frequency Trading Happy Hour are sophisticated and have risk-management tools that limit the likelihood of destabilizing networking exchanges.
In addition to high-frequency firms that participate in High-Frequency Trading Happy Hour receptions, many market players have a stake in the outcome of the proposal. They include the organizers, bouncers working for the venue hosting High-Frequency Trading Happy Hour, competing organizations running similar events and the proprietary-trading operations of some large banks that could have a competitive advantage if High-Frequency Trading Happy Hour is banned. In the computer-driven world of high-frequency trading, attending High-Frequency Trading Happy Hour can mean the difference between winning and losing. Experts say few traders will agree to skip these exclusive receptions. Instead, they will risk drawing ire of regulators to attend next High-Frequency Trading Happy Hour receptions on November 9th and December 7th.
High-Frequency Trading Happy Hour is produced by Golden Networking (goldennetworking.net), the premier networking community for business executives, entrepreneurs, investors and diplomats, founded by former McKinsey consultant and Columbia Business School MBA Edgar Perez. Upcoming Golden Networking’s Forums and Business Receptions include:
• High-Frequency Trading Happy Hour, (HFTHappyHour.com), November 9th, New York City
• 2nd Banking Leaders Forum, “Private Banking on the Brink of Transformational Change” (BankingLeadersForum.com), November 18th, New York City
• High-Frequency Trading Experts Workshop 2010, “Practical Implementation of High-Frequency Trading Strategies” (HFTExpertsWorkshop.com), November 22 & 23, Hong Kong
• Public Finance Leaders Forum 2010, “How Private Funds Can Invest in Government-Owned Property and Public Projects” (PublicFinanceLeadersForum.com), December 2nd, New York City
• High-Frequency Trading Happy Hour, (HFTHappyHour.com), December 7th, New York City
• 2nd Private Equity Leaders Forum, “Setting the Stage for Radical Transformation in 2011 and Beyond” (PrivateEquityLeadersForum.com), December 9th, New York City
• High-Frequency Trading Experts Workshop 2010, “Practical Implementation of High-Frequency Trading Strategies” (HFTExpertsWorkshop.com), December 9 & 10, New York
Golden Networking has compiled the insights of top experts and industry practitioners and produced DVD Video Packages for its Leaders and Experts Forums, including:
• 2nd China Leaders Forum DVD Video Package, “Is the Chinese Dragon Poised for Global Dominance or Economic Implosion?”, ChinaLeadersForum.com
• Distressed Investing Experts Forum 2010 DVD Video Package, “Analyzing and Valuing Distressed Companies, Securities and Real Estate”, DistressedInvestingExpertsForum.com
• Derivatives Leaders Forum 2010 DVD Video Package, “Strategies for Increasing Profits under an Evolving Regulatory Framework”, DerivativesLeadersForum.com
• High-Frequency Trading Leaders Forum 2010 DVD Video Package, “Innovating and Profiting from High-Frequency Trading in 2010 and Beyond”, HFTLeadersForum.com
• Hedge Funds Leaders Forum 2010 DVD Video Package, “Generating Alpha in Challenging Times”, HedgeFundsLeadersForum.com
• High-Frequency Trading Experts Forum 2010 DVD Video Package, “Starting and Running a High-Frequency Trading Operation”, HFTExpertsForum.com
• Distressed Investing Leaders Forum 2010 DVD Video Package, “Extraordinary Opportunities Investors Cannot Afford to Pass”, DistressedInvestingLeadersForum.com
• China Leaders Forum 2009 DVD Video Package, “Addressing the Challenges Posed by the Present Wave of Chinese Globalization”, ChinaLeadersForum.com
• Distressed Investing Leaders Forum 2009 DVD Video Package, “The Most Comprehensive Guide for Any Investor in Distressed Assets”, DistressedInvestingLeadersForum.com
Panelists, speakers and sponsors are invited to contact Golden Networking by sending an email to [email protected]. Golden Networking has been frequently featured in the press, including recent articles in The Wall Street Journal, “Happy Hour for High-Frequency Trading”, The New York Times, “Golden Networking Helps Job Seekers Make Overseas Connections”, Los Angeles Times, “Speed-addicted traders dominate today’s stock market”, Reuters, “Revamp looms as trading experts huddle at SEC” and Columbia Business School’s Hermes Alumni Magazine, “10 Under 10”.
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Contact:
Edgar Perez
Golden Networking
New York, NY
516-761-4712
[email protected]
http://www.hfthappyhour.com
