TY - JOUR T1 - Practical Applications of The Volume Clock: <em>Insights into the High-Frequency Paradigm</em> JF - Practical Applications SP - 1 LP - 4 DO - 10.3905/pa.2013.1.2.005 VL - 1 IS - 2 AU - Maureen O’Hara AU - David Easley AU - Marcos M. López de Prado A2 - Christopher, Kathryn Y1 - 2013/10/31 UR - https://pm-research.com/content/1/2/1.5.abstract N2 - The Volume Clock: Insights into the High-Frequency Paradigm Maureen O’Hara David Easley Marcos M. López de Prado 1 1 1 4 Contrary to popular belief, speed is not the defining characteristic that sets high-frequency (HFT) trading apart.In The Volume Clock: Insights into the High-Frequency Paradigm , which appeared in the Fall 2012 issue of The Journal of Portfolio Management , authors Maureen O’Hara, David Easley and Marcos M. López de Prado explain that as a result of regulatory changes, the power of computers is now being utilized by HFTs in ways that were previously not allowed.Whenever a new predator appears in a habitat, there is a shock period that lasts until the hunted species adapt and evolve, the authors maintain. This Practical Applications report details the options that the authors suggest low-frequency trading practitioners employ to help them adapt to this new environment.O’Hara is the Robert W. Purcell Professor of Finance at Cornell University in Ithaca and Chairman of Investment Technology Group’s board of directors. Easley is the Henry Scarborough Professor of Social Science and Donald C. Opatrny ’74 Chair in the Department of Economics at Cornell University. Lopez de Prado is Head of Quantitative Trading &amp; Research at Hess Energy Trading Company (HETCO), the trading arm of Hess Corporation. ER -