Great piece in the NY Times...

[Cancel 2016.2]

http://www.nytimes.com/2014/04/06/magazine/flash-boys-michael-lewis.html?hp&_r=0

The above is not too long of a read. I would encourage everyone to read through it. IEX is changing some of the corrupt practices of Wall St. It is dragging them kicking and screaming into the light (at least as far as trading goes).

 

[Mott the Hoople]

Does this correalate to the program 60 minutes had on last night?

 

[Cancel 2016.2]

Does this correalate to the program 60 minutes had on last night?

Yes... pretty much same story, just a bit more detailed.

 

[Mott the Hoople]

Yes it does. 60 minutes interviewed Brad Katsuyama last night. It was indeed an eye opener.

 

[Cancel 2016.2]

Yes it does. 60 minutes interviewed Brad Katsuyama last night. It was indeed an eye opener.

Just glad there was someone smart enough, with enough integrity and the desire to put a team together to help solve this problem. Been bitching about the high frequency systems for years. Some of the other stuff I didn't know about. I thought the assholes HAD to put our trades through to the IEX exchange when we told them to do so. Our compliance department is now looking into how they can ignore our input like that.

 

[Taft2016]

I've been saying for years that this market is grossly overvalued.

Individual trading is way off and investor confidence is low. The DOW keeps rising on computers trading paper back-and-forth. Incessant paper swaps.

The end is drawing near.

 

[cawacko]

http://www.nytimes.com/2014/04/06/magazine/flash-boys-michael-lewis.html?hp&_r=0

The above is not too long of a read. I would encourage everyone to read through it. IEX is changing some of the corrupt practices of Wall St. It is dragging them kicking and screaming into the light (at least as far as trading goes).

You going to read his new book?

 

[PostmodernProphet]

I liked the part where they routed some dealers orders through a 60km coil of fiber optic cable....

 

[Cancel 2016.2]

You going to read his new book?

Planning on it. You? Or you sticking with 'See spot run'/USC caliber books?

 

[Cancel 2016.2]

I've been saying for years that this market is grossly overvalued.

Individual trading is way off and investor confidence is low. The DOW keeps rising on computers trading paper back-and-forth. Incessant paper swaps.

The end is drawing near.

Individual trading as a percentage of overall trades are down, but that has more to do with the increase in high frequency trading. The market is hardly over valued here. No algorithm would be created to bid stocks ever higher with no end or fundamental backing. You would tend to get hammered as another system will short the crap out of your position if you do. Keep in mind, they can make money on the way up or the way down. They have no incentive to price the market too high or too low. They do have an incentive to create volatility.

 

[cawacko]

Planning on it. You? Or you sticking with 'See spot run'/USC caliber books?

Ha! Every now and then I like to see what the common folk are reading so I've already pre-ordered in on Amazon.

 

[cancel2 2022]

Yes... pretty much same story, just a bit more detailed.

I read a while ago that the likes of Goldman Sachs co-locate their servers in the same New Jersey building as the NYSE trading servers.

http://www.steussy.com/blog/2009/07/goldman-sachs-gigantic-theft/

 

[Cancel 2016.2]

I read a while ago that the likes of Goldman Sachs co-locate their servers in the same New Jersey building as the NYSE trading servers.

http://www.steussy.com/blog/2009/07/goldman-sachs-gigantic-theft/

that is one of the issues IEX is addressing and taking away.

 

[Mott the Hoople]

Ha! Every now and then I like to see what the common folk are reading so I've already pre-ordered in on Amazon.

You can pre-order "Dick and Jane" on Amazon??!!

 

[cancel2 2022]

that is one of the issues IEX is addressing and taking away.

It has taken them long enough, it has been like that for ages.

 

[cancel2 2022]

I liked the part where they routed some dealers orders through a 60km coil of fiber optic cable....

That I find hard to believe, there are many easier ways to route traffic to introduce a propagation delay of a few milliseconds.

 

[The Dude]

I've been saying for years that this market is grossly overvalued.

Individual trading is way off and investor confidence is low. The DOW keeps rising on computers trading paper back-and-forth. Incessant paper swaps.

The end is drawing near.

Total over reaction, political hackishness makes people keep working

 

[Mott the Hoople]

That I find hard to believe, there are many easier ways to route traffic to introduce a propagation delay of a few milliseconds.

I don't think you understand Tom. They set up their own exchange and then used this 60km coil of fiberoptics to level the playing field so that no one can take advantage of a time gap on their exchange.

 

[cancel2 2022]

I don't think you understand Tom. They set up their own exchange and then used this 60km coil of fiberoptics to level the playing field so that no one can take advantage of a time gap on their exchange.

Mott, are you aware of a concept called deep packet scanning? We used it at T-Mobile to distinguish between Skype and non-Skype traffic for the purposes of billing. Cisco SCE 8000 boxes are ideal for that purpose.

http://www.cisco.com/c/en/us/produc...8000-series-service-control-engine/index.html

 

[Althea]

Mott, are you aware of a concept called deep packet scanning? We used it at T-Mobile to distinguish between Skype and non-Skype traffic for the purposes of billing. Cisco SCE 8000 boxes are ideal for that purpose.

http://www.cisco.com/c/en/us/produc...8000-series-service-control-engine/index.html

Is there an easy way around that? I'm sure those in the high speed trading sector will spend countless millions to regain their advantage.