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ISM 101 Seminar: 5 February 2004; 2:00 PM; JB156

"Computational Trading: The Intersection of Technology and Finance"

Louis K. Salkind, Ph.D.

Vice Chairman, D. E. Shaw & Co.

 

Abstract:

Over the past two decades, advances in global financial markets, computer technology, and financial theory have made it increasingly possible for investment managers to design algorithms and computer programs to make their trading decisions for them.  In this talk we give an overview of this growing area of finance, which is sometimes referred to as computational trading.  We will review some of the quantitative and computational technologies that are used in the area, describe some of the technical challenges that must be overcome, and speculate on the future impact of such trading in the development of financial markets.

 

About the Speaker:

Lou Salkind serves as vice chairman of D. E. Shaw & Co., a specialized investment firm with approximately $7 billion in aggregate capital.  Dr. Salkind received his A.B. from Princeton University in 1978, where he studied mathematics and physics, and his Ph.D. from the Courant Institute of Mathematical Sciences at New York University in 1990, where he studied computer science and robotics.  Dr. Salkind is a recipient of the USENIX Lifetime Achievement Award, as well as the NYU Distinguished Alumni award for his work in finance and technology.  Dr. Salkind serves on the board of directors of Schrodinger, Inc., a computational chemistry company specializing in drug design software, and he is also the President of the Bright Horizon Foundation, a non-profit organization that promotes social change through the dissemination of knowledge.