Regulators and investors are struggling to meet the challenges posed by high-frequency trading. This ultra-fast, computerised segment of finance now accounts for most trades. HFT also contributed to the “flash crash”, the sudden, vertiginous fall in the Dow Jones Industrial Average in May 2010, according to US regulators. However, the HFT of today is very different to that of three years ago. This is because of “big data”.
監(jiān)管機構和投資者疲于應對高頻交易(HFT)帶來的難題。這種速度極快的計算機化金融活動如今占據(jù)了交易的大頭。美國監(jiān)管部門認為,高頻交易一手制造了2010年5月的“閃電暴跌”(flash crash),令道瓊斯工業(yè)平均指數(shù)(Dow Jones Industrial Average)突然大跌。然而,現(xiàn)在的高頻交易已與三年前大不相同,這是“大數(shù)據(jù)”造成的。