EU Joins Team US Regulators In ‘We Have No Idea What High Frequency Trading...
The EU is hopping on the let’s get after the-high-frequency-trading bandwagon and has started to investigate the practice. Bloomberg reports that the European commission met with industry...
View ArticleEighth-Grader Explains High Frequency Trading, Flash Crash For School Project
Take it away, William Arnuk. [via Business Insider] Continue reading »Follow Dealbreaker on Twitter or become a fan on Facebook.Tags: 8th graders, high frequency trading, school projects, William Arnuk
View ArticleTrades Not The Only Thing Gian-Paul Caccia Finishes Quickly
Gian-Paul Caccia of Wolverine Trading, a high-frequency trading firm, won [last night's JPMorgan] corporate challenge for the second year in a row with a time of 17:05 minutes, according to the...
View ArticleSEC Is Going To Take Your High Frequency Trading Algorithm, Run It On A...
After decades of responding to tips about fraud by writing notes on napkins and then throwing them away, the Securities and Exchange Commission finally got itself some computers and is excited to put...
View ArticleEfficient Markets News Of The Day
We live in a golden age of information dissemination and stock liquidity, in which news moves faster than earthquakes and high-frequency-trading robots can trade faster than you can blink, meaning that...
View ArticleReducing High Frequency Trading By Regulating It Less
Market microstructure is a thing that I don’t really understand and that seems daunting to me so I’ll pass this along as tentatively as possible, but: I thought this piece was really good.* Again, not...
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Knight Unhorsed
Yesterday I and others pointed out that, while UBS was not alone in getting screwed by Nasdaq failures on Facebook, it was alone in losing 10x as much as other, more competent market makers like Knight...
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NYSE Fined For Selling Product That Was Too Good
The standard illustration of the efficient markets hypothesis is the thing about the economists and the $20 bill on the ground, but it is so old and stale at this point that Matt Yglesias had to invent...
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Broker Fined For Helping Some Robots Rip Off Other Robots
What is your model of the SEC’s recent crackdown on the naughty forms of high-frequency trading? I don’t really like mine, and my model of high-frequency trading in general is pretty weak, so I...
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Study Suggests High Frequency Trading Might Cost Small Investors Almost One...
What do you think of the big HFT study? It’s this big HFT study that CFTC chief economist Andrei Kirilenko conducted on S&P 500 e-mini futures at the CME, and it’s already inspired a metaphor from...
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Getco Hoping That Acquiring Knight Capital Will Bring Back Some Of The...
You know what’s a surprisingly not-great business? High frequency trading, for Getco anyway. A couple months back Getco signed a deal to acquire Knight Capital after one of Knight’s computers had an...
View ArticleCME Plans Dreaded Technology Upgrades Because High-Frequency Traders Are Jerks
Beware: The Chicago Mercantile Exchange is “improving its technology.” And you know what that means. CME Group said it will be improving the computers and software that form the backbone of its Globex...
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All Stock Trading Should Be On Exchanges, Say Exchanges
One problem that people with a lot of time on their hands like to get worked up about is that academic economists sometimes write papers advocating positions that benefit organizations that give them...
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SEC Official: Actually, The Scoreboard Reads Computers: 1, Homo Sapiens: Next...
Contrary to some people’s beliefs. Concern that American stock markets have become more susceptible to split-second crashes due to computerization isn’t supported by the data, a Securities and Exchange...
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New York Attorney General Will Supervise When And How News Organization Can...
The Financial Times has an article today called “Greece reaches agreement with ‘troika’ on bailout tranche” and I’m not going to tell you about it but you can go read it if you want. If you’re an FT...
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Regulators Not Happy With Guy Whose Algorithm Tricked Some Other Algorithms
An important element of any Wall Street education is figuring out what shady practices will win you a reputation as a genius, what shady practices will win you a reputation as a scumbag, and what shady...
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A Fine And A Ban On Working In The Securities Industry Don’t Sound That Bad...
Poor Fab, but it could be worse. Michael Lewis has a heartbreaking, enraging story in Vanity Fair about poor Sergey Aleynikov, the former Goldman programmer and current Dostoyevskyan holy fool who was...
View ArticleCFTC Ready To Slow Down High-Frequency Trading
In quaint, anachronistic terms, the regulator is creating a “road map” to figure out how to keep HFT from ruining everything. Eventually. The CFTC’s road map, which runs more than 100 pages and could...
View ArticleHigh-Frequency Traders Prepare For Global Takeover
The embattled group is taking a page straight from Ronald Reagan’s playbook. In March, a small Chicago communications company plans to switch on an array of laser devices linking the New York Stock...
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Bloomberg: If You Think About It, Albert Einstein Was Technically The Father...
And no one is trying to step on Big Al’s toes, says some guy. The most important rules governing high-speed electronic trading weren’t written by market regulators, New York’s attorney general or a...
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