http://www.businessinsider.com/fbi-and-sec-to-probe-high-speed-trading-2013-3 Perhaps John Mc Clain would help too but it would make a poor movie. Imagine him entering an HFT office all bloody to find 20 indian geeks with no weapons... crap.
I will bet that this will be the first cut of the 170 million job cuts mentioned in the media. If the crooks were smart they would offer money to the government to look the other way ........ oh wait a minute ....... I wouldn't hold my breath after the fiasco that is called the sub-prime mess.
time to waterboard some of those HFT's -----The SECâs Quantitative Analysis Unit is focusing on the emergence of high-frequency trading firms and the rise of dark pools. Traders using these methods can manipulate the market by flooding it with quotes, known as quote stuffing, or placing millions of orders that are quickly cancelled, to drive others to trade in ways that benefit their position, a practice known as layering... ------ i've been talking about these 'tactics' for years. yet many people here are saying-it's nonsense and markets are fine. yeah..right..trade more and see it yourself. on same page,one link below- 39 Photos That Prove Vladimir Putin Is The Most Badass Leader In The World http://www.businessinsider.com/39-p...ife-of-a-comparatively-boring-world-leader-40
Great comment. Bang on. There are three ideas on HFT. One is the leave me alone, its no different that 50 years ago. (HFT traders, some actually using legal methods. Although if legal worked, why has there been a huge increase in illegal - enough to get FBI interested?) Two is the "you are a complainer cuz you are losing" - that is, it is all you and the markets are always right. (Traders who apparently don't keep or analyze records of their trading. I know of zero real traders who don't see the impact now, however, given millions of methods of trading, there may be some who legitimately don't see it in their methodologies.) Three and largest category. I don't really trade but am practicing or wannabe a trader. Have I missed anyone?
SEC themselves are the core of the problem. they are the ones,who made it possible. like i said for many many years-the rules are tilted to favor those,who lobbied them. and it wasn't you and me. this is the current reality. this is how things works now in US. it can be stopped overnight without spending a dime from gvt or tax payer. just few orders from SEC. that's it. no more PDT,subpenny,quote stuffing,layering, it's really simple,if you want the change or have balls to really do it. but no..no one has balls in DC to do anything. here is another example from another gvt's department- http://news.yahoo.com/too-much-money-spent-iraq-too-few-results-051221182--politics.html SSDD
it sure is..5 min ago i was trying to sell 170 shares of some stock. after i hit the bid and got filled-price on the bid went down for about 5%-7%. right on the middle of the day. where are they? all those HFT 'liquidity providers',who suppose to maintain fair and orderly market? i wasn't selling 100000 shares. a pathetic hundred fucking seventy shares. i guess-it's about what you trade,size and how often. if you place 1 trade a month to buy or sell 100 shares of SPY or QQQ at close-then you probably never feel the problem
And today we read "Goldman leads decline as Wall Street commodity revenues plummet" which says in the story this line "Based on Reuters' calculations, revenues at Morgan Stanley's commodity business peaked at around $3 billion in 2008, but have since declined to just over $1 billion last year." And yes there are more interesting numbers in the story. Now didn't someone say on this very topic in multiple forums , that what happens to small fish will happen to big fish? And didn't someone say that all traders were impacted but if their thinking was not very in depth, some of them would not know it? Now, who was that masked man who said these things repeatedly on ET? I hereby give that poster one gold star!
".. hedge funds and other firms that use complex, super fast algorithmic codes to execute their trades." I'll show you some super fast algorithmic codez!