HFT as Seen Through an Op Risk Lens

Lourenco Miranda, head of quantitative analytics, US Bancorp

Calling the 2010 Flash Crash a liquidity event arising from structural features of the high-frequency trading (HFT) environment, the head quantitative analytics at US Bancorp said the best way to prevent a recurrence is to recognize and manage the operational risks of a market structure in which HFT is a major part of life.

That, however, may not be accomplished by the internal operational risk and control frameworks currently in place.

Speaking to a room full of risk managers at the Op Risk

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