Market Structure Matters.™

Past Speaking Events

Past public speaking events are included below.

Current speaking events can be found here: Haim Bodek - upcoming speaking events

Additional information and example videos can be found here: Haim Bodek - public speaking

Please use our contact form for information on private speaking engagements and client events.



Denver Security Trader Association - 43rd Annual Convention

Topic: The Problem of HFT

Speaker: Haim Bodek

The introduction of Regulation NMS in 2007 triggered the dramatic surge of high frequency trading (HFT) volume in US equity markets. Not well understood at the time was that for-profit electronic exchanges had artificially spurred this volume growth, catering to the "the new market makers" by providing HFTs specialized features and discriminatory advantages that dovetailed with HFT strategies. Indeed, by circumventing the purpose and intent of Regulation NMS through a myriad of legal exceptions and clever regulatory workarounds, electronic exchanges have assisted HFTs in exploiting market fragmentation for mutual gain at the expense of institutional investors. This presentation will illuminate the primary mechanisms through which HFTs have engaged in low-latency regulatory arbitrage. It will also address the question of what institutional investors can do about the "problem of HFT."

DateTimeLocation
12/7/139:00AM-10:00AMAvon, Colorado

link: Park Hyatt Beaver Creek Resort & Spa December 6-8, 2013



Trading Architecture Asia

Topic: Low Latency Architectures Masterclass

Instructor: Haim Bodek

Low latency design is an area which those responsible for their firms trading technology and architectures too often get wrong, costing their firm millions in the process. Issues such as accessing HFT rich exchanges without being burnt, choosing an effective trading surveillance system, designing a low latency architecture that it is efficient plus ensuring that you select the right hardware is fraught with difficulty.

DateTimeLocation
8/29/138:30AM-12:30PMHong Kong

link: Harbour Grand Hong Kong, August 29, 2013



Institutional Investor TraderForum - 2013 Annual Conference

Topic: Seminar on Electronic Liquidity Strategy (ELS)

Speaker: Haim Bodek

This seminar provides an overview of Electronic Liquidity Strategy (ELS), a hybrid electronic trading approach for institutional investors that serves to assist in fulfilling best execution fiduciary duties in the heavily fragmented US electronic marketplace. Electronic Liquidity Strategy (ELS) leverages algorithmic trading strategies, order placement methods, and electronic market access mechanisms traditionally employed by short-term liquidity providers in order to achieve superior execution performance for institutional traders.


DateTimeLocation
5/10/2013TBDLos Angeles

link: II TraderForum 2013 Annual Conference, May 8-10, 2013, Los Angeles



Battle of the Quants New York 2013

Topic: HFT Panel & Book Signing for The Problem of HFT

Speaker: Haim Bodek

Haim Bodek discusses his book The Problem of HFT. Afterward, there will be a book-signing with complimentary copies.


DateTimeLocation
4/24/2013TBDNew York

link: Battle of the Quants, April 24, 2013, New York



Stevens Institute of Technology (seminar attendees only)

Topic: The Problem of HFT

Speaker: Haim Bodek

High frequency trading (HFT) is one of the most talked about, controversial and significant topics affecting markets today. This seminar will explain how the seemingly coincidental intensification of HFT activity in 2007 is intimately related to the adoption of Rule 610 and Rule 611 of Regulation NMS, a regulatory framework meant to bind multiple equity markets into a fair, competitive national market system. Electronic exchanges and high frequency trading firms exploited this regulatory framework for mutual gain, introducing a number of unfair and discriminatory order handling practices which gave HFTs and edge over institutional investors. How should we address what has become a crisis point with regard to the current state of US equities market structure? Regulation NMS must be evolved to strengthen markets, defend regulations, protect investors, and regain the public trust.

DateTimeLocation
3/7/135:00PM-7:00PMHoboken, NJ

link: Stevens Institute of Technology, Financial Engineering, March 7, 2013, Hoboken, NJ



TradeTech USA 2013

Topic: HFT - An Artifical Industry

Speaker: Haim Bodek

The introduction of Regulation NMS in 2007 triggered the dramatic surge of high frequency trading (HFT) volume in US equity markets. Not well understood at the time was that for-profit electronic exchanges had artificially spurred this volume growth, catering to the 'the new market makers' through the provision of specialized features and discriminatory advantages over the public customer.

DateTimeLocation
2/27/139:50AMNew York

link: TradeTech, Feb 26-28, 2013, New York



Carnegie Mellon Lecture Series on Financial Products and Markets (course attendees only)

Topic: HFT Order Types, Exchange Matching Engine Practices, and Regulatory Arbitrage

Speaker: Haim Bodek

The introduction of Regulation NMS in 2007 triggered the dramatic surge of high frequency trading (HFT) volume in US equity markets. Not well understood at the time was that for-profit electronic exchanges had artificially spurred this volume growth, catering to the "the new market makers" by providing HFTs specialized features and discriminatory advantages over the public customer.

DateTimeLocation
2/7/137:10PM-8:30PMNew York

link: CMU NYC campus, Feb 7, 2013, New York



UCLA Law School, Lowell Milken Institute Lecture (UCLA students and alumni only)

Topic: The Problem of HFT

Speaker: Haim Bodek

The introduction of Regulation NMS in 2007 triggered the dramatic surge of high frequency trading (HFT) volume in US equity markets. Not well understood at the time was that for-profit electronic exchanges had artificially spurred this volume growth, catering to the "the new market makers" by providing HFTs specialized features and discriminatory advantages over the public customer.

DateTimeLocation
2/6/135:00PM-7:00PMLos Angeles

link: Lowell Milken Institute, UCLA, Feb 6, 2013, Los Angeles



Security Traders Association of Los Angeles (STALA) Speaker Series

Topic: The Problem of HFT

Speaker: Haim Bodek

A discussion of topics from Haim Bodek's new book, The Problem of HFT, as well as what institutional investors can do to effectively execute in HFT-oriented markets.

DateTimeLocation
2/5/133:00PM-6:00PMLos Angeles

link: STALA, Feb 5, 2013, Los Angeles



Institutional Investor Trader Forum - 2013 Winter Workshop & Equity Trading Summit

Topic: An Insider's View On HFT

Moderator: Jim Muller(Institutional Investor)
Speakers: Sal Arnuk, Partner and Co-Founder, Themis Trading * Manoj Narang, Ceo, Tradeworx Inc. * Haim Bodek, Managing Principal, Decimus Capital Markets, LLC

In the evolution of the capital markets each generation of technical innovation has spawned its contemporary version of high frequency trading. From telegraph to telephone and semaphore flags to semi-conductor chips, the Darwinian efficiency of the market place has always succeeded at leveling the playing field by "arb-ing out" the excess capital return for each new application of technology. Although the trading volume attributed to HFT strategies has fallen the last few years, HFT has proven more durable than many disciples of efficient markets had predicted. Will HFT strategies continue as the pilot fish of the industry for the foreseeable future? Has new innovation and regulatory fiat already morphed super short term strategies into a new animal all together?

DateTimeLocation
1/31/138:15AMNew York

link: Institutional Investor Trader Forum - 2013 Winter Workshop & Equity Trading Summit, Jan 30-31, 2013, New York



GAIM USA 2013

Topic: High-Frequency Trading Keynote Speaker and Debate

Speaker: Scott Patterson

Debate:Haim Bodek, TBD

HFT is one of the most talked about, controversial and significant topics affecting markets today. Did HFT cause the flash crash? Does it provide liquidity? Is it the end of the markets as we know them? This session begins with a keynote address from noted journalist and author Scott Patterson, followed by a debate from two industry veterans on the validity of high-frequency trading.

DateTimeLocation
1/22/13TBDBoca Raton, FL
GAIM USA 2013

link: GAIM USA 2013, Jan 21-24, 2013, Boca Raton, FL



NOIP Fall 2012 (members only session)

Panel: Welcome to the Jungle: Critical Trading and Market Structure Issues

Moderator: Jim Muller (NOIP)
Speakers: David Mechner(Pragma), Jamil Nazarali (Citadel), Haim Bodek

A number of exchange order matching engines practices that serve to advantage HFT strategies will be described. The discussion will take the form of an open discussion with the audience.

DateTimeLocation
10/23/1210:40-11:55AMNew York

link: NOIP Fall Conference, Oct 23, 2012, New York



University of Rochester, Simon School of Business (business school students only)

Topic: The National Market System - Restoring Confidence in the United States Stock Market

Speaker: Haim Bodek

High frequency trading (HFT) is one of the most talked about, controversial and significant topics affecting markets today. The presentation will explain how the seemingly coincidental intensification of HFT activity in 2007 is intimately related to the adoption of Rule 610 and Rule 611 of Regulation NMS, a regulatory framework meant to bind multiple equity markets into a fair, competitive national market system. Electronic exchanges and high frequency trading firms exploited this regulatory framework for mutual gain, giving the advantage to HFTs over institutional investors. How should we address what has become a crisis point with regard to the current state of US equities market structure? Regulation NMS must be evolved to strengthen markets, defend regulations, protect investors, and regain the public trust.

DateTimeLocation
11/20/124:00PM-5:00PMRochester, New York

link: University of Rochester, Simon School of Business, Nov 20, 2012, Rochester, New York



Battle of the Quants

HFT and Exchange Order-Matching Engine Practices

Speaker: Haim Bodek

An overview of key market structure changes which facilitated the growth of the HFT industry in US equities after the adoption of REG-NMS. In particular, a number of exchange order matching engines practices that serve to advantage HFT strategies will be described.

DateTimeLocation
9/11/1211:15-11:45AMLondon

Artificial Intelligence & Machine Learning

Panel Speaker: Haim Bodek

The simplicity of many successful HFT strategies is in many ways antithetical to the properties associated with artificially intelligent trading machines. Why do "fast and dumb" heuristics continue to work? To what extent are artifical intelligence and machine learning methods really used in a microsecond trading environment?

DateTimeLocation
9/11/125:05-5:45PMLondon

link: Battle of the Quants, Sep 10-12, 2012, London