As reported by the Financial Times, US proprietary trading and market-making firm Getco has been confirmed as a member of SGX, the Singapore Exchange, as high-frequency trading firms gear up for the Asian market. This new frontier will be further explored at High-Frequency Trading Experts Workshop 2010 (http://www.HFTExpertsWorkshop.com), “Practical Implementation of High-Frequency Trading Strategies”, instructional and insightful 2-day workshop organized by Golden Networking in Hong Kong, November 22 & 23 and New York, December 9 & 10.
Philip Stafford explained: “High frequency trading is a style of electronic dealing that uses algorithms to dip automatically in and out of markets hundreds of times faster than the blink of a human eye. To date, high-frequency trading has largely been found in US and European markets. According to Tabb Group, the consultancy, it now accounts for 56 per cent of all equity trades in the US and 38 per cent by value in Europe. The Bank of England has estimated high-frequency trading is believed to account for between 5 and 10 per cent of Asian equity volumes but expects the number to grow rapidly.”
The articled concluded announcing that “Getco appointed John Fildes, the former chief operating officer for Instinet Asia, to develop new business in the region and liase with exchanges, regulators and brokers. ‘Getco’s participation as a trading member, together with our product launches such as American Depositary Receipts, increases our value offering to customers as the Asian gateway,’ said Rama Pillai, senior vice-president and head of sales and distribution at SGX.”