I am reading more & more posts / articles that mention "event-driven" strategies. I have found a "generally accepted" definition: "Event Driven Trading is any strategy that seeks to exploit pricing inefficiencies, occurring when companies are involved in corporate events such as mergers, takeovers, restructures (including share buy-backs, spin-offs and capital returns), de-mergers and lock-up expiries. Traders, who follow event driven strategies, attempt to predict the outcome of a particular corporate event on the security price as well as the optimal time to commit capital. For example the recent failed private equity bid for Qantas would have provided opportunities for events driven traders." (http://www.thebull.com.au/experts/a/249-does-trading-based-on-news-and-events-work.html) BUT ... I have also read a number of posts / articles that mention "event-based" strategies as opposed to "time-based" strategies, and I suspect in those cases people do refer to something totally different (for example, a CEP - Complex-Event Processing function in a HFT system). I am curious & interested in understanding better that angle ... at a high level, what can be those events ? Here is a tentative start to a list to get the ball rolling: - purchased order flow information (not for the retail traders!) - bid/ask pattern - price pattern - would an indicator-based signal (say, the cross of to MAs) qualify as an event ? - ... I am looking forward to your inputs. Cheers D.