Since the introduction of High-Frequency Trading (HFT) on the JSE, the technology has exponentially increased, and now HFT accounts for the majority of volume traded on the exchange. HTF forms part of the broader group of algorithmic traders. Despite its dominance of market volume, few studies have been conducted outside of the United States.

Aurélie Courdent has studied the effect of Algorithmic Trading on the JSE and co-authored a paper on the subject as part of her Master's thesis at the University of Witwatersrand. Aurelie presented the paper at the 2022 Southern African Finance Association Conference, and it was of such quality it was selected to be published in the Investment Analysts Journal. The co-author is David McClelland, whose work has featured previously in the IAJ. David, together with Dr Daniel Page, co-presented a Masterclass last year on their paper “Idiosyncratic Momentum on the JSE.”

The findings of this South African focused work are of enormous value to professional practitioners such as stock exchange traders and fund managers or indeed the retail investor looking for guidance in these volatile times. This latest Masterclass is another must attend event hosted by the IAS.

Aurélie is employed by Peresec and is the Head of Data Analytics at the company.