New York, NY -- (SBWire) -- 07/12/2011 --Golden Networking is inviting Thursday July 28 the liveliest audience of high-frequency and quantitative trading professionals to mingle at High-Frequency Trading Happy Hour, http://hfthappyhourhongkong.eventbrite.com, now for the second time in Hong Kong. High-Frequency Trading Happy Hour, featured in The Wall Street Journal, has congregated high-frequency (and some low-frequency too) traders, quants, managers, investors and key decision makers for evenings of networking and cocktail for the last 15 months.
High-frequency and algorithmic trading driven by fancy computers has revolutionized trading in the western world. It will take more than a few High-Frequency Trading Happy Hour receptions to make it happen in Hong Kong. That's according to Charles Li, the chief executive of stock-exchange operator Hong Kong Exchanges & Clearing, who said in an interview in The Wall Street Journal that while he wouldn't rule out high-frequency trading becoming a major force in Asian markets, he didn't expect it to take root in Hong Kong, the region's third largest stock market by capitalization.
"It's still hard for high-frequency traders to play in Asia," Li said. "We're not foolish enough to say it isn't going to happen, but there are several reasons why it may not happen soon." For one, he said, Asian markets are too fragmented and the regulatory barriers too high to allow for the kind of deep and liquid pools that high-frequency traders need to generate juicy profits. In Hong Kong in particular, a government tax on stock-trading is a major revenue source that officials are loath to give up, denying traders even the narrowest sliver of profit margins. Li's exchange also lacks the technological preparedness for a flood of high-frequency trades, though he has pledged to improve HKEx's technical infrastructure.
Most importantly, Li was quick to add that mainland China's massive army of day traders is arguably more effective in generating volumes than even the highest-powered supercomputers. According to the World Federation of Exchanges, trading activity in China's two stock markets, Shanghai and Shenzhen, are among the highest in the world. In 2010, the turnover velocity of domestic shares in Shenzhen was 344.3%, the highest in the world, and nearly triple that seen at NYSE Euronext (NYX). Luring these types of investors to Hong Kong fits into Li's long-term strategy of harnessing mainland China's enthusiasm for stock trading by creating channels for them to trade in Hong Kong. In late April, the first offshore public stock listing denominated in the mainland Chinese yuan made its debut in Hong Kong, a first step towards allowing Chinese citizens to invest in Hong Kong without any foreign-exchange risk.
High-Frequency Trading Happy Hour Hong Kong is produced by Golden Networking (http://www.goldennetworking.net), the premier networking community for business executives, entrepreneurs and investors. Upcoming Golden Networking's Forums and Business Receptions include:
• High-Frequency Trading Happy Hour Chicago (http://hfthappyhourchicago.eventbrite.com), July 26th, Chicago
• High-Frequency Trading Happy Hour Hong Kong (http://hfthappyhourhongkong.eventbrite.com), July 28th, Singapore
• High-Frequency Trading Happy Hour New York (http://www.hfthappyhour.com), August 9th, New York City
• High-Frequency Trading Leaders Forum 2011 Hong Kong , "How Speed Traders Leverage Cutting-Edge Strategies in the Post-Flash Crash World" (http://hftleadersforumhongkong.eventbrite.com), September, 19-21, Hong Kong
• High-Frequency Trading Leaders Forum 2011 Chicago, "How Speed Traders Leverage Cutting-Edge Strategies in the Post-Flash Crash World" (http://hftleadersforumchicago.eventbrite.com), October 3-5, Chicago
• High-Frequency Trading Leaders Forum 2011 Sao Paulo, "How Speed Traders Leverage Cutting-Edge Strategies in the Post-Flash Crash World" (http://hftleadersforumsaopaulo.eventbrite.com), October 24-26, Sao Paulo, Brazil
• High-Frequency Trading Leaders Forum 2011 Singapore, "How Speed Traders Leverage Cutting-Edge Strategies in the Post-Flash Crash World" (http://hftleadersforumsingapore.eventbrite.com), November 13-15, Singapore
Golden Networking has compiled the insights of top experts and industry practitioners and produced DVD Video Packages for its Leaders and Experts Forums, including:
• High-Frequency Trading Leaders Forum 2011 DVD Video Package, "How Speed Traders Leverage Cutting-Edge Strategies in the Post-Flash Crash World", http://www.HFTLeadersForum.com
• High-Frequency Trading Experts Workshop DVD Video Package, "Practical Implementation of High-Frequency Trading Strategies", http://www.HFTExpertsWorkshop.com
• 2nd China Leaders Forum DVD Video Package, "Is the Chinese Dragon Poised for Global Dominance or Economic Implosion?", http://www.ChinaLeadersForum.com
• Distressed Investing Experts Forum 2010 DVD Video Package, "Analyzing and Valuing Distressed Companies, Securities and Real Estate", http://www.DistressedInvestingExpertsForum.com
• Derivatives Leaders Forum 2010 DVD Video Package, "Strategies for Increasing Profits under an Evolving Regulatory Framework", http://www.DerivativesLeadersForum.com
• High-Frequency Trading Leaders Forum 2010 DVD Video Package, "Innovating and Profiting from High-Frequency Trading in 2010 and Beyond", http://www.HFTLeadersForum.com
• Hedge Funds Leaders Forum 2010 DVD Video Package, "Generating Alpha in Challenging Times", http://www.HedgeFundsLeadersForum.com
• High-Frequency Trading Experts Forum 2010 DVD Video Package, "Starting and Running a High-Frequency Trading Operation", http://www.HFTExpertsForum.com
• Distressed Investing Leaders Forum 2010 DVD Video Package, "Extraordinary Opportunities Investors Cannot Afford to Pass", http://www.DistressedInvestingLeadersForum.com
• China Leaders Forum 2009 DVD Video Package, "Addressing the Challenges Posed by the Present Wave of Chinese Globalization", http://www.ChinaLeadersForum.com
• Distressed Investing Leaders Forum 2009 DVD Video Package, "The Most Comprehensive Guide for Any Investor in Distressed Assets", http://www.DistressedInvestingLeadersForum.com
Panelists, speakers and sponsors are invited to contact Golden Networking by sending an email to info@goldennetworking.net. Golden Networking has been frequently featured in the press, including recent articles in The Wall Street Journal, "Happy Hour for High-Frequency Trading", The New York Times, "Golden Networking Helps Job Seekers Make Overseas Connections", Los Angeles Times, "Speed-addicted traders dominate today's stock market", Reuters, "Revamp looms as trading experts huddle at SEC" and Columbia Business School's Hermes Alumni Magazine, "10 Under 10".
High-Frequency Trading Happy Hour for Chinese and Expat Speed Traders in Hong Kong's Lan Kwai Fong
High-Frequency Trading Happy Hour Hong Kong, July 28th, will Bring Together the most Influential High-Frequency and Quantitative Trading Audience for an Evening of Networking and Cocktails at Lan Kwai Fong’s Volar