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D E C E M B E R 6 TH, 2 0 1 0
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 V set of rules used to make a decision.


 Used in every type of mathematical application.
 Vs simple as buy above previous day high to as
complicated as Volume Weighted Vverage Price
utilizing neural networks.
 Often many are not very complicated.
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 Vmerican Depository Shares Vrbitrage


 Convertible Bond Vrbitrage
 Merger Vrbitrage
 FX Rate Vrbitrage
 Vcross multiple markets
 FX Forward Vrbitrage
 ´Negative Spreadsµ
 Put/Call Parity
 Option/Structured Product Mispricings
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 mncreasingly low latency technologies are important
 The closer you are to the main data centers the
more
 NYSE colocation and other exchanges is often very
expensive
 300 Million Fiber Optic Project to connect New York
and Chicago
 Milliseconds to turn into Microseconds
 mn FX and Over-the-Counter markets you want to be
located close to main center
 Pittsburgh New York example

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 http://www.cnbc.com/id/39664612/
 ´GVMmNGµ is making the market appear to appear
to a trader as having a future expectation only to
trick the trader·s system to going off.
 The market is just full of people trying to game each
other·s system.
 When it come·s to broker·s it is illegal.
 Predatory Vlgorithms

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Vlgo List Referenced from a blog by SMB Capital.


   

 Concept Development often starts in Excel or


MVTLVB
 You will want to learn C++, C#, and in many cases
JVVV.
 mmplementation through FmX is growing.
 R or S+ are also used.
 Depends on company position.
 Show Excel Sheet

  
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 Many quants and computer programmer·s never
make good trader·s.
 Knowing programming as a trader is huge for a
large amount of firms.
 Growth in Proprietary Trading Firms has led to a
large technology revolution in the field.
 Firms look for Quantitative Skills (Engineers, Physics,
etc.)



 Good links