Practical analysis for investment professionals
15 December 2011

Take 15: High-Frequency Trading, Flow Toxicity, and the Flash Crash

At the Asian Finance Association Conference in Macao SAR, China, Dr. Maureen O’Hara, an expert in market microstructure and trading, discusses high-frequency markets, algorithmic trading, flow toxicity, and differential access to price information in Asia, as well as the flash crash and market fragmentation.

This episode of the Take 15 Series was originally released on 29 September 2011.

Are you viewing this post on a mobile device? Download the CFA Institute app from iTunes or Android Market to watch this and other videos.

About the Author(s)
Samuel Lum, CFA

Samuel Lum, CFA, was director of Private Wealth and Capital Markets at CFA Institute, where he focused on wealth management and capital markets, mainly in an Asia-Pacific context.

1 thought on “Take 15: High-Frequency Trading, Flow Toxicity, and the Flash Crash”

  1. Another flash crash is, despite fragmentation, hugely unlikely. There is now an entire generation of traders having seen it once and standing ready to suck up stock the minute it starts dropping irrationally. In much the same way as terrorists will never again gain access to an airplane cockpit, because the model of taking control, landing it and demanding a ransom has been broken (by 9/11) and the customers (passengers) and pilots know there is no way they will allow terrorists to take control of the plane.

Leave a Reply

Your email address will not be published.



By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close