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Chitra Ramkrishna, MD &CEO of the National Stock Exchange has called for white papers on the relevance of automation, algorithmic trading and high frequency trading, among others, in the securities market for a broad-based audience.
Inaugurating the second NSE-New York University Indian Financial Markets Conference in Mumbai on Monday, Ramkrishna, said, “There is very little research on Indian data. This event gives us the opportunity to interact with the Indian academia on market microstructure and how to influence/ impact policy and test policy intervention.”
She felt that convening such a meeting would have tremendous benefit, if policy outcomes are sensitised in advance about the tools of intervention used.
On automated/ algo/ high frequency trading, Ramkrishna said, “Everyone is struggling.”
She observed that it would serve the purpose if the impact of policy intervention could be pointed out for issues such as cost competitiveness and enhance the effectiveness of policymaking.
She urged local researchers to take up issues and be a policy input resource group and stressed on identifying key themes to undertake holistic research.
Research studies selected for this conference include papers on banking reforms, infrastructure financing in India, capital constraints and market liquidity, and high-frequency trading. The papers will be published on the websites of both the NSE and the NYU Stern as “NSE-NYU Working Paper Series 2013-14.”
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