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Session 3A 2 Golub

Session 3A 2 Golub

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Published by: prasadpatankar9 on Aug 07, 2012
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05/13/2014

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High Frequency Trading
Anton Golub
Manchester Business School
May 5, 2011
 
Definition & Characteristics
High Frequency Trading (HFT):
extremely fast, fully automated and computerized trading
short trading time horizon
benefits from market liquidity imbalances and short-term pricinginefficiencies
require real-time data analysis and trading decisions
do not carry overnight positionsAs HFT is sensitive to latency, high frequency trading firms:
co-locate 
their computers next to exchanges
buy
raw 
data from exchanges and reconstruct the order book bythem self 

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