Dark Pools & High-Frequency Trading: Keith Ross, PDQ CEO Interview

Masters in Business interview of Keith Ross, Chief Executive Officer of PDQ Enterprises -- pdqats.com-- dark pool operator, and former CEO of high-frequency algorithmic trading company Getco.

Interviewer is Barry Ritholtz (ritholtz.com) who wrote:

In our conversation, we discuss what High Frequency and Algorithmic trading are, the changes in Market Structure over the past 30 years, and what the proper role of the Exchanges should be. It gets a bit wonky once the conversation whether HFTs are superior to Specialists, the plusses and minuses of Fragmentation. We also head a little deeper into the weeds on issues of Co-location, Packet-sniffing, Spoofing, Quote-stuffing and Walking away. I would be remiss if I didn’t bring up front running as well.

PDQ Enterprises is based outside Chicago in Glenview, Illinois, with offices in New York City and Westport, Connecticut. PDQ Enterprises pioneers new and efficient ways to participate in today’s complex electronic markets. A dark pool and ATS (Alternative Trading System) firm specializing in unique inverse auctions for institutional trading. Previously, Ross ran Getco, one of the largest HFT forms (Getco was sold to Knight Trading last year for $1.4B). See also: Alternative Trading System (ATS) Definition | Investopedia.

Tweets by @PDQ_ATS

About PDQ:

    (Video published Dec 17, 2014)

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DISCLAIMER

Brad Katsuyama, IEX Trading, Disrupting Stock Markets, HFT (videos)

Wall Street Week | Episode 13 | Brad Katsuyama, Steven Einhorn - This July 19th episode of Wall Street Week features Brad Katsuyama, co-founder and CEO of IEX Trading and subject of Michael Lewis' best-selling book "Flash Boys," and Steven Einhorn, Vice Chairman of Omega Advisors. Topics include high-frequency trading (HFT), market structure, and economic and investment outlook. Einhorn believes this bull market has at least 2 more years to run. According to Einhorn, historically, equity (stock) markets continue to increase for 30 months following the first interest rate increase by the Fed (some believe the Fed will begin increasing rates later this year) and Einhorn says this economic expansion could continue for several more years based on factors he follows. See also the IEX video below.

Domain names of companies referenced:

• iextrading.com
• omega-advisors.com
• wallstreetweek.com

Topics: HFT, high-frequency trading, algorithmic trading, markets, spoofing, economy, investing, cycles of rules(regs)-loopholes-scandals, transparency of information, complexity favors insiders, arbitrage, dark pools, the public interest


IEX Intro

See also: Flash Boys: Changing Wall Street from Ellevate on Vimeo -  fireside chat with with Sallie Krawcheck and Brad Katsuyama features discussions about IEX, electronic trading, changing Wall Street, and making a difference while still making money.


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