高频交易

高频交易面临的一个重大变化就是，它们必须通过注册成为SEC麾下的经纪商。

The one major change for HFT firms is that they have to register as brokers with the SEC .

美国证券交易委员会（sec）审查闪电指令的举措受人欢迎，对高频交易的仔细审视也会如此。

Moves by the securities and Exchange Commission to review flash orders are welcome , as would be a proper look at HFT .

市场的进一步分裂更可能让新兴的高频交易公司获益，而不是摩根士丹利（MorganStanley）或高盛（GoldmanSachs）等公司。

A further fracturing of the market probably would benefit upstart high-frequency trading firms more than Morgan Stanley or Goldman Sachs .

怀特还提到，SEC将调查交易所是否应该将交易数据提前透漏给高频交易公司。

White also noted that the SEC is looking at whether exchanges should be giving trading data to some HFT firms faster than everyone else .

因此，尽管此举能让SEC更为密切地监控高频交易公司，但是它也会让这些公司的举动稍微具有一些合法性。

So , while the SEC will get to monitor HFT a little more closely , its moves will also make HFT a little more legit .

比如，将来我们会看到新兴网络公司Pinterest的高频交易吗？

For example , could we end up seeing high-frequency trading of pinterest shares ?

业内专家表示，银行从此类交易中赚取的利润，往往令RGMAdvisers等高频交易集团相形见绌。

Banks ' profits from such trading often eclipse what groups such as RGM Advisers make , industry experts say .

怀特说，SEC将调查高频交易公司是否获得交易所的允许，借助比其他交易商更为有利的方式来提交买卖订单。

White said the SEC is looking into whether exchanges allow HFT firms to place their buy and sell orders in ways that give them an advantage over other traders .

证交会还将审查“资金暗池”（darkpools，即不公开显示报价的电子交易）和高频交易（hft）。

The SEC is also set to examine " dark pools " , electronic trading venues that do not publicly display quotes , and high frequency trading ( HFT ) .

ACD模型可以很好的刻画我国股票市场的高频交易数据特征，具有非常好的应用价值。在滞后一期的情形下，Weibull分布具有非常好的适用性。

The ACD model can well capture the durations dynamics of our financial trading data , with one lagged model , the Weibull distribution has excellent applicability ;

研究和交易机构Pragma估计，高频交易每年所带来的总成本可能高达25亿美元。

Pragma , a research and trading firm , estimates the total cost could be $ 2.5 billion a year .

鉴于高频交易的规模如此庞大，监管者们对其认识不足，着实令人担忧。

Given this size , regulators ' lack of understanding is alarming .

他表示：高频交易向市场中添加了大量噪音。

High-frequency trading has added a lot more noise to the market .

本文针对中国市场的特殊性，以市场微观结构理论为理论基础，利用超高频交易数据，从理论和实证角度深入研究了我国市场微观结构噪音的特点及其对价格行为的影响。

The study is based on market microstructure theory and ultra-high frequency data .

乔尔·哈斯布鲁克说，高频交易实际上能够减少波动。

Yet Joel Hasbrouck of NYU observes that speed trading often reduces volatility .

纽约泛欧交易所还希望禁止这些股票的高频交易。

NYSE Euronext is also seeking to ban so-called high-frequency trading in such stocks .

他们理应知道是谁在使用高频交易，以及有何标准。

They should know who is using HFT and to what standards they are held .

另一种流行的高频交易策略是赚取做市的差价与交易所的回扣。

Another popular HFT strategy is to collect rebates that exchanges offer to liquidity providers .

不过，欧达礼表示，有迹象显示，权证市场上存在类似高频交易的活动。

However Mr Alder said there was evidence of HFT-like activity in the warrants market .

对进行短线交易或高频交易的投资者来说，程序化交易非常具有吸引力。

Programming trading is very attractive to the short term trading or high frequency trading investor .

甚高频交易数据的金融计量研究

Financial Econometrics Study on Ultra-high-frequency Data

这就是人们所知的高频交易的一部分。

This is , in part , the high frequency trading that you have heard about .

高频交易或许不会给金融体系带来风险，但对此没人敢打保票。

HFT may not carry risks to the financial system but no one knows for sure .

系统介绍基于高频交易数据的已实现波动率及由它拓展而来的已实现协方差矩阵。

Based on the high-frequency data , the realized volatility and realized covariance matrix was introduced systematically .

另一种，则是用电脑系统进行高频交易，即所谓的算法交易或高频交易。

Another , a computer system is high-frequency trading , algorithmic trading , or the so-called high-frequency trading .

如今，人类做市商基本上已经被从事高频交易的极速电脑系统取代。

Today , human market makers have largely been replaced by ultra-fast computer systems trading with high frequency .

高频交易是银行自营交易员和新一代电子交易设备采用的大额交易。

HFT is high-volume trading used by banks ' proprietary traders and a new breed of electronic trading outfits .

高盛得以收获创纪录的盈利而且可能支付创纪录的红利，高频交易是原因之一。

Profits from high-frequency trading are one reason Goldman is earning record profits and likely to pay record bonuses .

不过眼下，更为廉价的技术，加上传统交易所的瓦解，意味着高频交易正在泛滥。

Now , however , cheaper technology , plus the disaggregation of traditional exchanges , means HFT is exploding .

睾丸激素含量较高的交易员的确更擅长高频交易，但这是因为他们冒了更大的风险。

Traders with higher testosterone did indeed do better at this type of trading , because they took more risk .