1.
지난 5월 미국 상원인 Debbie Stabenow이 ‘High Frequency and Automated Trading in Futures Markets‘를 주제로 청문회를 개최하였습니다
이후 미국 상원의 상설 조사 소위원회(Permanent Subcommittee on Investigations, PSI)가 HFT를 주제로 한 청문회를 개최하였습니다. 조사 청문회(Investigative hearings)는 한국의 국정조사 청문회와 비슷하며 수시로 조사 청문회를 열 수 있다고 합니다.
Conflicts of Interest, Investor Loss of Confidence, and High Speed Trading in U.S. Stock Markets
위원회가 제시한 아젠다입니다.
The Permanent Subcommittee on Investigations has scheduled a hearing, “Conflicts of Interest, Investor Loss of Confidence, and High Speed Trading in U.S. Stock Markets,” on Tuesday, June 17, 2014, at 9:30 a.m., in Room 216 of the Hart Senate Office Building.
The Subcommittee hearing will examine conflicts of interest in the U.S. stock markets and the impact of such conflicts on consumer confidence, including in the context of high frequency trading. In particular, the hearing will focus on the conflicts of interest that arise between the obligation of brokers to provide their customers with best execution of their orders to buy or sell securities, and the brokers’ receipt of payments from other brokers for order flow and rebates from some trading venues for placing those orders directly. Witnesses will include representatives of stock exchanges, brokerage firms, and institutional investors, as well as a securities market expert.
2.
아래는 청문회에 증인으로 나온 사람들입니다. Flash Boys에 등장하였던 IEX 대표도 나왔습니다. HFT 규제론을 이끌고 있는 사람입니다.
PANEL ONE
BRADLEY KATSUYAMA
President & CEO
IEX Group, Inc.
New York, NY
Download Testimony (398.7 KB)ROBERT H. BATTALIO
Professor of Finance, Mendoza College of Business
University of Notre Dame
Notre Dame, IN
Download Testimony (260.4 KB)PANEL TWO
THOMAS W. FARLEY
President
NYSE Group
New York, NY
Download Testimony (69.6 KB)JOSEPH P. RATTERMAN
Chief Executive Officer
BATS Global Markets, Inc.
Lenexa, KS
Download Testimony (83.4 KB)JOSEPH P. BRENNAN
Principal and Head of Global Equity Index Group
The Vanguard Group, Inc.
Malvern, PA
Download Testimony (47.8 KB)STEVEN QUIRK
Senior Vice President, Trader Group
TD Ameritrade
Omaha, NE
Download Testimony (74.3 KB)
이중에서 HFT에 불리한 서비스가 핵심 비지니스모델인 IEX의 자료를 살펴보시길 바랍니다. 고빈도매매에 대한 시장의 반격에서도 소개하였던 회사입니다.
만약 국회 정무위원회가 ‘파생상품시장의 활성화와 발전방안’을 놓고 청문회를 개최한다고 하면 증권회사 대표중 참석하여 위와 같은 토론을 할 사람이 있을까요? 할 수 있어도 하지 않겠죠? (^^)
