Sneaky Exchanges And HFT
November 29, 2012 - 5:45pm
The debate around HFT has been morphed ever since it went mainstream. The anger that is being heard from day-traders and other market participants is not focused on automated trading on its purest level which is strict code of statements regarding when to buy how much of what at what price given some input. The anger is focused on the "expert-networks" that offer certain individuals access to order types that are not public information. The anger comes from "Hide and Light" and the abilities select groups have. That very connection is what drove Haim Bodek into a frenzy at Trading Machines and surely many others. Haim's event is hard to imagine prior to what we know now about HFT, market structure, etc. Imagine scanning lines and lines of code looking for a specific error which was causing a constant hemorrhage of money through bad trading executions...
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