The event will take place on 14th September and convene experts on designing, operating and controlling systems that form the core of market infrastructure.
According to the SEC, recent events have highlighted some of the risks of increasingly complex and interconnected trading systems, setting aside the larger public debate regarding high frequency trading.
Last week, Knight Capital announced that it had been severely impacted by a technology issue that cropped up at the start of trading at the NYSE on 1st August.
The glitch followed the installation of new trading software that erroneously sent numerous orders in NYSE-listed securities into the market, with the firm realising a loss of around $440 million as a result.
Meanwhile in the UK, a leading technology trade association has recently called on regulators to force banks to improve the infrastructure that underpins the financial system, or risk future financial crises and systems failures.
According to Intellect, Britain’s financial infrastructure is substandard because of years of lack of investment and regulators may not have an accurate view of “the whole” of the financial system.
They could therefore be prevented from spotting abuses, or even another financial crisis, before it is too late.
Source:
bankingtimes.co.uk
