[This message was posted by Mahesh Kumaraguru of <[email protected]> to the "Algorithmic Trading" discussion forum at http://fixprotocol.org/discuss/31. You can reply to it on-line at http://fixprotocol.org/discuss/read/aa0b5e48 - PLEASE DO NOT REPLY BY MAIL.]
May 7, 2010 Katherine Heires @ securitiesindustry.com While trading algorithms are regularly praised for their speed and efficiency, a growing contingent of professional traders, financial engineers, consultants and academics say they are being misused, or are faulty from the start. Their answer? Establish best practices and increase training to keep algorithms from doing more damage than good. The impetus for the movement is the fear that the availability of sophisticated trading strategies to a wider audience with varying levels of expertise could cause havoc in the markets--and already has, in the view of many. If the industry does not do something to fix the problem, then regulators may have to take action, with potentially disastrous results for the algorithmic trading business. "If you are a professional trading firm, you have to certify that you are following the FIX protocol in your trading activities. But there is no equivalent to that--a driver's license, so to speak--for algorithmic trading," pointed out Michel Debiche, a veteran of the proprietary trading desks of CIBC World Markets, Daiwa Securities America and Credit Suisse. Full article :- http://www.securitiesindustry.com/news/-25303-1.html?zkPrintable=true Is there any Algo certification presently available in FIXProtocol ? If yes, can I have the URL of the relevant documents ? If no, is there any plan to create an algorithmic trading certification test suite ? Regards, K. Mahesh [You can unsubscribe from this discussion group by sending a message to mailto:[email protected]] -- You received this message because you are subscribed to the Google Groups "Financial Information eXchange" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/fix-protocol?hl=en.
