Golden
Networking brings the World's Most Influential High-Frequency Trading
Conference Series, High Frequency Trading Leaders Forum 2012, now in
Chicago, October 9, and London, December 12
(www.High-Frequency-Trading-Conference.com).
New
York City, NY, USA (October 7, 2012) -- Mark Cuban has compared
high-frequency traders to hackers. Just as hackers search for and
exploit operating system and application shortcomings, high frequency
traders do the same thing, he said. Moreover, Cuban adds that a
hacker wants to jump in front of your shopping cart and grab your
credit card and then sell it. "A high frequency trader wants to
jump in front of your trade and then sell that stock to you. A hacker
will tell you that they are serving a purpose by identifying the weak
links in your system. A trader will tell you they deserve the pennies
they are making on the trade or the rebate they are getting from the
exchange because they provide liquidity to the market."
That's
why Cuban has been invited to meet high-frequency trading mavericks
at High Frequency Trading Leaders Forum 2012,
(http://www.High-Frequency-Trading-Conference.com),
this time in the windy city, Chicago, October 9. As of this time,
Cuban must be enjoying the first "El Clasico" crash of the
Spanish season, Barcelona and Real Madrid, at Camp Nou, before
returning to the US.
Cuban
has predicted that there will be another flash crash, worse than the
May 2010 flash crash, he says, simply because there are too many
players looking for the trillion dollar score. "They can't all
win, yet how many do you think wouldn't risk everything, even what is
not theirs, for that remote chance to score big? Put another way,
there is zero recognition of the moral hazard attached to every
trade. So why wouldn't traders take the biggest risk possible?"
He
concludes: "There is value to trading automation. It is here to
stay. There is absolutely NO VALUE to High Frequency Trading. None.
We need to bring our markets back to their original goals of creating
capital for business. It's impossible to guess how many small to
medium size companies have been held back from growing and creating
jobs and wealth because of lack of access to capital from the stock
market. It's not impossible to know that our economy has suffered
because Wall Street equity markets are no longer a source of equity
for helping companies grow, it is not a platform for hackers and that
needs to change. Quickly."
High
Frequency Trading Leaders Forum 2012, "How Knight Capital's
'Knightmare on Wall Street' Could Transform the Regulatory Landscape
and Impact Investors, Speed Traders and Brokers"
(http://www.HFTLeadersForum.com),
will provide attendees in Chicago and London with the most up-to-date
review of where this ever-changing industry stands and how new
technology and regulatory developments will impact it. Recognized
experts, regulators, and strategists, will return to High-Frequency
Trading Leaders Forum 2012 to provide the information practitioners
are looking for in an open and unbiased environment, highly conducive
to the most efficient and effective networking.
High
Frequency Trading Leaders Forum 2012 is produced by Golden Networking
(http://www.goldennetworking.net),
the premier networking community for business executives,
entrepreneurs and investors. Panelists, speakers and sponsors are
invited to contact Golden Networking by sending an email to
info@goldennetworking.net.
Media
Contact:
Julia
Petrova
Media
Relations Coordinator
Golden
Networking
516-761-4712
