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If Sandra Smith and we've been talking about Sondra she -- a special guest with us -- taken away.
Hey guys get -- very special -- actually in town in Chicago live with us from Australia believe and I Alex Reno -- the CEO but capital markets cooperative research also you professor.
Yet at the University of Sydney finance up.
You've got -- -- -- right now that these traders -- finance committee now in Chicago the global air watching you're going all over the world with this.
You're research show is that high frequency trading contrary to popular belief that it's actually bad for the markets actually serves a good purpose.
The -- we've we've done quite a bit of pursuits that looks at -- They -- -- -- provide liquidity that is whether they stand in the marketplace.
And lit up the straight against them.
Or or -- liquidity away from the marketplace.
Ever search based on many markets around the world clearly demonstrates that they provide a lot of liquidity.
So when you -- acquitted eight for the average investor sitting at home and your tying them that.
Although they might not like these sophisticated algorithmic trading models that they think are making it harder for them to get a better price in the marketplace.
How do you explain to them liquidity that this day that high frequency trading -- that real liquidity into the marketplace and improves their -- That will real liquidity is.
Others standing in the market and lifting you try it.
That's what liquidity is providing others with what I call the immediacy.
Error evidence -- convincingly.
That -- -- provide liquidity and they do so when the market must quonset.
So then people are gonna say hey what about the flash crash what is your other what is your research said that the -- as people say it was high frequency trading.
That really resulted in that.
Yeah I think there's been quite a bit of work done on the flash crash in the roles of the role of makeshift cities and odd -- not a shred of evidence presented.
That -- close to the the flash crash site.
Certainly we've looked at the link between -- shift to the trading activity and volatility.
And find no evidence that they draw volatility okay.
Eds adds it's actually just absolutely interesting I know lot of traders here an interest -- -- -- saying elastic as Brian hang up back to you.
Alex has been traveling all over the world talking about this what do you seen so far for business in Chicago I know people are experience.
-- -- she cut their looks pretty busy tonight compared to some of the other major markets into something.
Really surprised by the amount of activity going on.
That's good news we like that Alex freeing thank you so much for joining us today guys high frequency trading it's just talked about constantly something his creatures said that is not a bad thing for the market even though the SEC is an acting more rules yeah against that we're gonna continue to talk about that undoubtedly Sandra thank you very much --
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