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Tag Archives: CFTC Technology Advisory Committee

John Lothian Newsletter: Deutsche Börse lines up swoop for LSE; High-speed firms plan second 1,000-foot tower in Kent; A radical world for FCMs Blog

First Read So I Found You Again On Facebook: LSE and Deutsche Börse Dating Again Jim Kharouf and Doug Ashburn, JLN Well, here we go again. The on again, off again affair between the London Stock Exchange and Deutsche Börse is, well on again. The two exchanges are looking to create “an exchange of equals” which would pair two powerful securities, derivatives, clearing, products and services companies in the global exchange space. LSE made a run at Deutsche Börse, just prior to the DB’s IPO in February 2001 but the deal fell through when shareholders in London objected. The second…

John Lothian Newsletter: Chi-X Global sells Asian units to JC Flowers; Michael Bloomberg exploring US presidential bid; Talk of Fed ‘policy error’ grows John Lothian Newsletter,Newsletter

First Read NextGen Market Training By Doug Ashburn and Jim Kharouf – JLN The long-standing tradition of bringing young students into the industry to learn all of the ins and outs of the business continued last Friday at Trading Technologies. TT hosted Campus Connect Algo Showcase, as students from four universities presented their trading ideas and algo trading systems to the audience. Students from the University of Illinois, Loyola University, DePaul University and Illinois Institute of Technology (See more on IIT becoming Illinois Tech below), showed everything from how they coded a trading program to how they used TT’s Algo…

Guest Commentary: Regulating Automated Trading, Not Just Chilton’s Cheetahs Commentary,Regulation

Zach Ziliak

Guest commentary by Zachary Ziliak. Zachary Ziliak runs Ziliak Law, LLC, a law firm that focuses on the needs of trading companies and the vendors that service them. Prior to law school, Ziliak worked in the financial sector as a trader and quantitative analyst. He then spent six years in Mayer Brown’s Litigation & Dispute Resolution practice, with a concentration in complex financial, mathematical, and computer-related concerns, before breaking off in May 2013 to found his own firm.[1] As such, he is particularly suited to comprehending the legal ramifications of algorithmic and high frequency trading regulation. Following is his summary…

TAC 2.0 Commentary,Regulation,Tech / HFT

John Lothian

Yesterday was my first meeting in Washington, DC as a member of the CFTC’s Technology Advisory Committee, or TAC 2.0 as it is called. The meeting featured reports from working committees on aspects of high frequency trading, or HFT, as well as presentations about SEFs. The first task from Working Group #1 was to define what HFT is. The working or provisional definition of HFT from Working Group number #1 was: High frequency trading is a form of automated trading that employs: (a) algorithms for decision making, order initiation, generation, routing, or execution, for each individual transaction without human direction;…