Date: 3rd September, 2015
Location: Sofitel, BKC, Mumbai
The Finance and Research Group (FRG) of Indira Gandhi Institute of Development Research (IGIDR) recently conducted a round-table discussion event on regulations related to algorithmic trading in India. Over 30 professionals from the financial institutes (market participants from both buy and sell side trading firms, regulators, compliance & risk professionals, exchange professionals, etc) and from finance related academia participated in the event. The event was conducted on the 3rd of September, 2015 at Hotel Sofitel in BKC, Mumbai.
Rajib Ranjan Borah from QuantInsti was invited to be on the panel “How should SEBI be thinking of regulating Algorithmic Trading”. Other speakers at the same panel included Mr. Balasubramanium Venkataramani (Chief Business Officer – Bombay Stock Exchange), Kumar Goradia (Tower Research Capital India), and Ravi Varanasi (Chief of Business Development, National Stock Exchange).
Given the increasing prominence of algorithmic trading in the financial markets, and the recent news about SEBI looking at regulating the algorithmic trading industry - the topic of the event is currently the buzzword in discussions within the algorithmic trading industry in India lately. Given the wide breadth of participation (professionals and academic researchers; finance professionals from all key departments; most major domestic and international financial institutes-both buy and sell side) and the centrality of this theme lately; this extremely interactive event generated several positive discussions on the benefits and challenges of algorithmic trading.
Studies on the prevalence and effects of algorithmic trading in India were discussed. Global regulation on algorithmic trading and their variation with respect to regulations in India were discussed.
The following is the detailed agenda of the event.
|10:00 - 10:10||Introduction Susan Thomas, IGIDR Finance Research Group|
|10:15 - 10:45||A primer on algorithmic and high-frequency trading Gangadhar Darbha, Reserve Bank of India|
|10:50 - 11:15||Algorithmic trading in India: What do the data say? Nidhi Aggarwal, IGIDR Finance Research Group|
|11:20 - 11:50||Regulating AT: Global perspective Venkatesh Panchapagesan, IIM Bangalore (formerly Bridgewater Associates and Goldman Sachs)|
|12:00 - 13:00||Panel and floor discussion: How should SEBI be thinking of regulating AT Balasubramaniam Venkataramani, Chief Business Officer - BSE Kumar Goradia, Head of Business Development & Operations - Tower Research Capital India Rajib Borah, Director - iRage Capital Ravi Varanasi, Chief of Business Development - NSE|
|13:00 - 14:00||Lunch|