User talk:Spirandola

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Improving a page on financial markets

Dear Cabayi and 331dot, sorry for bothering with this and I wonder if you could help to improve a wiki page. I noticed that in the page Financial market there is a section "Analysis of financial markets" with the following statement: "In recent years the rise of algorithmic and high-frequency program trading has seen the adoption of momentum, ultra-short term moving average and other similar strategies which are based on technical as opposed to fundamental or theoretical concepts of market behaviour." I am not sure this gives 100% the picture. For instance there is a working paper of the European Central bank, called "High Frequency Trading and Price Discovery" https://www.ecb.europa.eu/pub/pdf/scpwps/ecbwp1602.pdf which gives some additional information about high-frequency trading (HFT). In its abstract, it states that: "The direction of HFTs’ trading is correlated with public information, such as macro news announcements, market-wide price movements, and limit order book imbalances." Also in the conclusions: " We identify different types of public information related to HFTs: macroeconomic announcements and limit order book imbalances" It seems that, according to this study from the ECB, there is an important connection with the so-called Trading_the_news strategy (whose page seems in turn not so developed on wiki). Probably something could be added to the page Financial market on the line: "For instance, according to a study of the European Central Bank [[1]], high frequency trading has a substantial correlation with news announcements and other relevant public information that are able to create wide price movements (e.g., interest rates decisions, trade of balances etc.)" I wonder if you could consider suggesting or adding a short discussion about this to the talk page Talk:Financial market. Some expert editors could pick this and consider if this information is indeed relevant/useful in order to clarify rationales that are at the basis of HFT. Thx.Spirandola (talk) 10:39, 23 July 2020 (UTC)