High-Frequency Trading and Liquidity Resiliency
Friday, September 21, 2018
Hosted jointly by the SEC and NYU’s Salomon Center for the Study of Financial Institutions
The Division of Economic and Risk Analysis (DERA) of the U.S. Securities and Exchange Commission and New York University’s Salomon Center are organizing a half-day dialogue on high-frequency trading and liquidity resiliency. In light of the significant changes in the regulatory landscape as well as technological advances, this Dialogue will explore the impact of high-frequency trading and the resiliency of liquidity in financial markets. Topics will include i) regulation, HFT, and the need for speed in trading; ii) the incentives and obligations of market makers as automation becomes more prevalent, with a focus on whether automation has improved market quality, or has led to disruptive trading practices; and iii) the evolution of liquidity provision and liquidity resiliency.
The Dialogue is intended to bring together practitioners, regulators, and academics to learn, engage, and discuss the current state of market making and liquidity provision, with a focus on liquidity resiliency and the impact of HFT.
The Dialogue will be held on Friday, September 21, 2018, at the SEC headquarters in Washington, DC, and will be open to the public. Webcasting will also be available. The preliminary program will include:
|Opening remarks – Brett Redfearn, SEC
|Session 1: Regulation, HFT, and the Need for Speed
Moderator: Brett Redfearn, SEC
|Session 2: Market Making, Automation, and the Potential for Disruptive Trading
Moderator: Elad Roisman, SEC Commissioner
|Session 3: The Evolution of Liquidity Provision and Liquidity Resiliency
|Concluding Remarks: Chyhe Becker, SEC