Larry Harris, Ph.D., CFA, Fred V. Keenan Chair in Finance, USC Marshall School of Business and Lead Independent Director, Interactive Brokers, in this webinar, will discuss – What practitioners need to know about electronic trading.


Hosted by CFA Institute

Overview

Exchanges worldwide now match orders automatically, and electronic traders use these systems to respond to new market conditions in milliseconds. High frequency traders now are the primary suppliers of liquidity to retail and institutional investment managers. Their efficiencies substantially lower transaction costs. But electronic trading also facilitates parasitic trading strategies that can hurt buy-side traders. Increased market fragmentation is another undesirable outcome. High speed trading does facilitate capital formation, but the associated increased liquidity creates additional risks. On balance, the increased operational efficiency has helped enhance the informational efficiency of the markets. This benefits everyone.

The webinar will address the following learning outcomes:

  • Understand how the efficiencies of electronic trading led to its widespread adoption.
  • Recognize how buy- and sell-side traders use electronic strategies to their advantage.
Appreciate how electronic trading improves capital formation and price efficiency and thus public welfare.

About the Speaker(s)

larry harris pic
Larry Harris CFA

Larry Harris, CFA, is Fred V. Keenan Chair in Finance at the USC Marshall School of Business, Los Angeles, and is lead independent director at Interactive Brokers.

Shreenivas Kunte
Shreenivas Kunte CFA, CIPM

Shreenivas Kunte, CFA, is a director of continuing education and advocacy at CFA Institute. In this role, Shreenivas contributes to thought leadership in the investment profession. He writes on investing topics in leading publications and represents CFA Institute at conferences and forums. Shreenivas serves as an external research scholar at the Indian Institute of Technology Bombay. Prior to joining CFA Institute, Shreenivas worked as the country trading strategist for Citi. He holds a degree in computer engineering from Mumbai University.

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