CEU Business Programs Info Session

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  • 3 Dec 2019 6:30 PM
  • CEU
CEU Business Programs Info Session
CEU Business Programs Info Session with Peter Szilagyi's talk "When Do Insiders Trade? Opportunistic versus Strategic Decision Making".

Join us on December 3 6:30pm at CEU or online! Learn more about our programs, have an informal chat with faculty, students and alumni, and get all your questions answered.

What to expect?

6:30-6:45pm: CEU Business Programs: Quick Facts – Peter Szilagyi, Associate Professor and Director of Business MS Programs

6:45-7:15pm: When Do Insiders Trade? Opportunistic versus Strategic Decision Making – Peter Szilagyi
Opportunistic inside traders can exploit their private information by trading financial contracts such as derivatives. However, recently convicted inside traders Lukas Kamay and Christopher Hill, who used Australian pre-release statistical data to profit in foreign exchange markets, demonstrated more complex strategic decision-making.

We show that while derivatives were used to leverage information,
(i) only certain information was actually traded on,
(ii) losses were generated to mask trading activities, and
(iii) great care was exercised when placing trades to minimize potential losses from offsetting price information in other markets.

Our results are consistent with insiders acting strategically to maximize the value of their information, while also trying to minimize the risk of detection. Kamay and Hill’s actions highlight the limitations to regulatory surveillance in over-the-counter markets, while reinforcing the importance of regulatory measures that prevent, or discourage, insider trading prior to trade execution.

7:15-7:35pm: The CEU Experience: Panel discussion with current students and alumni

7:35-9:00pm: Reception with current students and alumni
Place: CEU
Address: 1051 Budapest, Nádor u. 15.
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