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Matthew GriffinFounder, President and Futurist, 311 Institute
G7 · G20governments advised
850+keynotes
102countries
17codexes
Finance and banking sessions forAfricaONEShawbrook BankStandard Chartered BankThe Institute of Internal AuditorsWolters KluwerCrown Prince Court
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Bartt Kellermann, CEO of Global Capital Acquisition and founder of Battle of the Quants, invited Matthew to keynote the Frankfurt edition of the event, which moves between Frankfurt, London and New York and focuses on algorithmic and high frequency trading. Having seen Matthew present at Innovation Enterprise, Bartt asked him to speak on the future of hedge funds in a hyperconnected world.
In the early years few people knew what quant traders were and the event struggled to draw a crowd. Ten years on, the queues are out of the door, quant traders are consistently beating their human equivalents, and no one can imagine doing business on Wall Street without some form of quant trading system.
"Quant traders are convincingly and consistently smashing their human equivalents on Wall Street. Now no one can imagine doing business on Wall Street without using some form of quant trading system."Matthew Griffin, Frankfurt, February 2017
The event was held at the Museum Angewandte Kunst, and was covered by Handelsblatt Global, which interviewed Matthew beforehand for its "Battle for a Trading Edge" article on the rise of AI in trading. Quant trading depends on three things: ingesting large and varied sources of information, analysing it, and acting on the output. Matthew's role was to show how AI is evolving and how new data sources are exploding, from global satellite networks and persistent surveillance systems to sensors in everything from nanobots in the bloodstream to the Internet of Things.
Just before he went on, the projector failed, and after ten minutes of attempted fixes he went off script. Over the next hour he and the audience covered uploading knowledge to the brain through telepathic interfaces, the automation of data scientists and Terminator robots. The quants loved it.
311 Intelligence
What this means for your leadership team
Automation became the default.
In the early years few people knew what quant traders were. Ten years on, no one can imagine doing business on Wall Street without some form of quant trading system. Leaders in any data-rich sector should expect the same shift.
Data sources are the new edge.
Quant trading rests on ingesting information, analysing it and acting on the output. The session pointed to satellites, surveillance systems and connected sensors as fast-growing inputs. The Internet of Things is a trend to act on now, and satellite internet is one to prepare for.
Markets may stop closing.
US exchanges are preparing near round-the-clock share trading, with wide use expected around 2028. Automated systems do not tire, so they suit that pace better than human teams do. Firms that rely on people alone may fall behind.
Three questions for your next leadership meeting
Which of our decisions could a quant-style system already make better?
What new data sources could we ingest that rivals ignore?
Are we ready to operate if markets run almost round the clock?
The trends and technologies behind this session
From the 311 Starburst, the 311 Strategic Intelligence Unit’s map of the technologies and trends shaping the next 50 years.
Automation moves from novelty to norm faster than most teams expect. The winners will be those who gather wider data, analyse it well and act on it quickly. Waiting for proof usually means arriving late.
How does the Internet of Things relate to automated trading?
Connected sensors are one of the fast-growing data sources the session described. More sensors mean more input for analysis, and so more signals for automated systems to act on. 311 rates the trend as one to act on now.
How does 24 hour stock trading relate to quant trading?
Automated systems can work through the night, so longer market hours favour them. US exchanges are preparing near round-the-clock share trading for investors in Asia and app users. Firms should test their operating model against that pace.
How can 311 brief our leadership team on this?
311 offers a private executive briefing or leadership workshop, tailored to your sector. Sessions are held in person first.
Bring this to your leadership teamA private executive briefing or leadership workshop, tailored to your sector. In person first, anywhere in the world.
Analysis by the 311 Strategic Intelligence Unit, from Matthew Griffin’s session and 311 data.
If Matthew gave this session today
Hundreds of emerging technologies are reshaping global industry.
The Future of Exponential Technology Codex explores hundreds of emerging technologies and their implications for industry, including the new data sources and AI that quant traders now compete on.
