Date: 27th March 2023 Time: 08:40 - 16:20 BST
Venue: Conference room, 1.06, Marshall Building, LSE (map)
Organisers: Sir John Beddington (Oxford Martin School), Kevin Houstoun (Rapid Addition), Jean-Pierre Zigrand (FMG/SRC/LSE)
Programme: click here
Summary of the event by Romesh Vaitilingam: access here
Photos: click for more
The Foresight Report into the Future of Computer Trading came out 10 years ago in an environment of technological and financial paradigm shifts, the emergence and dominance of HFTs, flash crashes and Mifid II. Thirty-one academic drivers were commissioned from the world’s leading academics, as well as twenty-two economic impact assessments, one survey and a study of interviews with computer-based traders. Three international workshops were organised and their findings published. In the report, the lead experts were tasked with using the academic findings to formulate a number of propositions, foresights, scenarios and predictions about the possible future market structures, the technologies used, and the economic and financial consequences for liquidity, resilience, efficiency, international competition, fairness, the costs of transacting and the cost of capital.
This mini-conference aims to review the events of the last ten years, to point out the impact, failures and successes of the report, and to allow the participants to formulate and debate their views of the next ten years and peak into the crystal ball for a glimpse of the future of the future of computer-based trading in financial markets.
Invitation-only event.
Videos
Presentations
- Mark Reece (LSEG), Kevin Houstoun (Rapid Addition), Peter Randall (Project Aurora) – The impact of technological developments
- Oliver Linton (Cambridge) – The impact of HFT and market structures on liquidity, price efficiency/discovery, and transaction costs: some updates
- Spyros Skouras – What have we learnt about financial ecology, market speed and call auctions?
- Khaladdin Rzayev (Edinburgh) – Dark Pool Trading and Corporate Cash Holdings
- Gbenga Ibikunle (Edinburgh) – Market quality implications of HFT: reconciling the mixed evidence
- Anna Pavlova (London Business School) – New challenges: HFTs and retail order flow
- Alistair Milne (Loughborough), Kevin Houstoun (Rapid Addition) – Computers and complexity, and the roles of trust and standardisation
