Discussion in 'Wall St. News' started by OnClose, Jan 17, 2013.
http://www.businessinsider.com/what...tock Select 2013-01-17&utm_content=emailshare
if there is real SEC- i would apply a small fee for ALL orders. very simple and very effective step against this madness. fraction of 1 cent would be enough to stop that. 1 simple order from SEC.
Better yet if they apply small fee when you attempt to think.
Did it occur to you that 25 000 volume stock and 9 trades a day plus high volume of placed and cancelled trades means somebody or maybe CBOE was testing their system in real time on some dormant security?
So you have solution to no issue and no problem?
yeah..testing.. ask those nanex boys about it..testing my a**
are they still testing it since 2008? ok then..
Why this is bothering you? This has no effect for individual trader.
And who do you think will pay this fee and who will be exempt?
Nanex: this is what happens when a buggy mind goes crazy.
I like the idea of all quotes having to stay alive an actionable for 50ms before they can be cancelled. At least give traders the opportunity to act on it... Don't put it out there unless your willing to stand behind it and honor the trade.
50ms should be reasonable for market center local / colo traders. I think you would need 500ms for global parity... I can't see that happening.
LOL! 1.7 million orders and 9 trades! Maybe some joker was trying to get into the Guinness Book?
It would have to be a much longer hold than that...to be really fair on a "global" scale, the order needs to be held until the same time-zone adjusted time is reached across all possible trading locations...
I'm cool with these algorithmic systems since they do provide some liquidity to the markets. However, I wouldn't wanna get caught up when they cause a flash crash.
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