One of the most important inputs in the preset algorithms used to make computerized trades is volatility itself. This means that when true volatility hits the market, the computers exacerbate problems.
Letter: Program Trading Magnifies Black Swan Disturbances Read More »
The SEC’s recent reprieve to Wall Street from European regulations is simply kicking the can down the road. We need wholesale regulatory reform.
U.S. Should Avoid EU-Style Financial Regulations Read More »
SAs Congress orders a study into the possible effects of MiFID II-style policies in the US, the SEC would be better off building bridges with their European counterparts to achieve equivalence than following the EU’s lead, argues Daniel Schlaepfer.
The U.S.’s MiFID II Dilemma Read More »
Worldwide spending on AI systems will grow to nearly $35.8 bn in 2019 – a 44% increase on 2018. It’s expected to more than double to $79.2 billion by 2022. In my own sector of international capital markets, the chorus of voices proclaiming the dominance of machine-learning is growing by the day.
AI can play poker, but it can’t play the markets yet Read More »
Britain’s departure from the EU is an opportunity to reassess Mifid II’s and how it can be a more transparent and competitive marketplace.
Mifid II goes too far and is too costly to implement Read More »
ritain’s departure from the EU is an opportunity to reassess Mifid II’s and how it can be a more transparent and competitive marketplace.
Mifid rules have damaged investment markets Read More »
Sparks flew at the recent Securities and Exchange Commission (SEC) roundtable in Washington DC as regulators attempted to drag exchanges and market makers to a compromise over the long-running controversy of market data fees. The SEC recently ruled that the New York Stock Exchange and Nasdaq had not justified the price they charge for market data. That ruling has kicked off a new round of the century-old debate.
Why We Need Compromise on Market Data Read More »
The cost of complying with the European Union’s (EU’s) gargantuan Markets in Financial Instruments Directive II (Mifid II) is not just forcing smaller independent financial advisory firms to revise their charging models, as IFA research group Platforum recently reported.
Mifid II is driving smaller firms to the wall Read More »
Should artificial intelligence (AI) be regulated? And how? This is the questions on everyone’s lips.
A decade on, there are four things AI regulators can learn from the crash Read More »
Daniel Schlaepfer is the President and CEO of Select Vantage Inc (SVI), and its affiliates Select Vantage Canada Inc, Select Vantage Ontario Inc and Elite Vantage Placement Ltd. SVI is a global leader in electronic market-making, employing over 2,500 staff in 39 countries. On any given day, the firm can trade over US$3 billion a day on global stock markets.
Educated in Canada, Daniel received an MBA from the John Molson School of Business, Goodman Institute of Investment Management at Concordia University, and a Bachelor of Commerce from the Rotman School of Management at the University of Toronto. He is a CFA charter holder and passed the FINRA series 7 and 24 exams as well as CSI courses, CSC and PDO.
In 2019 Daniel was named to Canada’s Top 40 under 40 list and Concordia University’s Top 50 under 50 alumni shaping business in Canada. He is also a serving member of the Ontario Securities Commission’s Market Structure Advisory Committee (MSAC), a forum that discusses issues associated with market structure and marketplace operations in the Canadian markets.
