HFT

• Oh No – Another Post About High Frequency Trading?
  Posted by kid dynamite on August 31st, 2012 at 11:54 am, Comments: 0

  HFT is a topic I’ve beaten to death previously on this blog, and also extensively in comment threads on other blogs around the vast confines [...]

• The Actual Details of the Knight Capital Error
  Posted by kid dynamite on August 9th, 2012 at 8:25 am, Comments: 0

  A few days ago I speculated about the details of Knight’s error unwind with Goldman.   I got some things right, some things slightly right, and [...]

• Knight Asked SEC to Cancel Trades – SEC Did the Right Thing: They Said NO
  Posted by kid dynamite on August 6th, 2012 at 11:19 am, Comments: 0

  From the WSJ: “…Three hours after a software glitch unleashed a wave of erratic trades on Wednesday, leaving Knight holding at least $4.5 billion worth [...]

• Putting Together the Pieces of the Knight Capital Group Puzzle
  Posted by kid dynamite on August 4th, 2012 at 3:14 pm, Comments: 0

  Long story short, in Seinfeld style: Knight Capital Group ($KCG: no positions) had a huge error Monday morning, yadda yadda yadda, they lost $ 440MM [...]

• Dear NYSE: Canceling Trades Destroys The Integrity of The Market
  Posted by kid dynamite on August 1st, 2012 at 5:29 pm, Comments: 0

  Dear NYSE, So earlier I wrote a post about how today’s market action really wasn’t anything that should make any of us want to run [...]

• Dear Knight: Thank You. Dear Themis: Relax
  Posted by kid dynamite on August 1st, 2012 at 1:40 pm, Comments: 0

  Dear Knight Capital ($KCG: no positions), I just want to thank you for the opportunity this morning.  When your “technical issue” caused upwards of 148 [...]

• NYSE CEO Duncan Niederauer Says Dark Pools Disadvantage The Retail Investor, Then Launches Own Dark Pool
  Posted by kid dynamite on July 7th, 2012 at 1:51 pm, Comments: 0

  This actually isn’t a post about dark pools. I’ve already written more than one post about dark pools – several years ago in fact, and [...]

• The Idea of Banning Market Orders Goes Mainstream
  Posted by kid dynamite on September 14th, 2011 at 11:34 am, Comments: 0

  I believe that I was one of the pioneering voices of the idea, which some may view as Draconian, of banning the “market” order type.  [...]

• Oh The Horror – Your Indices Are All Wrong!
  Posted by kid dynamite on June 24th, 2011 at 11:20 am, Comments: 0

  I don’t dislike Joe Saluzzi and Sal Arnuk of Themis Trading – I just have a different perspective on market mechanics than they do.  I’ve [...]

• Algos Gone Wild – Stupid Computers Are GOOD for Smart People
  Posted by kid dynamite on April 27th, 2011 at 9:21 am, Comments: 0

  Sal Arnuk of Themis Trading has been a vocal opponent of computer algorithm based high frequency trading since before the topic became mainstream.  Today, Sal [...]

• Insider Trading, Or Not
  Posted by kid dynamite on November 23rd, 2010 at 3:36 pm, Comments: 0

  I actually kinda like talking about insider trading because it’s a topic that can have a lot of gray areas in it and requires some [...]

• FINRA:Trillium HFT Fine
  Posted by kid dynamite on September 13th, 2010 at 6:42 pm, Comments: 0

  FINRA has fined Trillium for “using an illicit high frequency trading strategy.” “WASHINGTON — The Financial Industry Regulatory Authority (FINRA) today announced that it has censured [...]

• Someone Will Always Have the Data First
  Posted by kid dynamite on June 4th, 2010 at 2:46 pm, Comments: 0

  I’m going to keep this short and sweet.  Scott Patterson writes in the Wall Street Journal: “Some fast-moving computer-driven investment firms are getting an edge [...]

• More on High Frequency Trading
  Posted by kid dynamite on December 8th, 2009 at 11:43 am, Comments: 0

  The sworn enemy of high frequency trading, Themis Trading, has a new “white paper” out titled “Latency Arbitrage: The Real Power Behind High Frequency Trading.”  [...]

• Calling Out Matt Taibbi on Dark Pools
  Posted by kid dynamite on October 28th, 2009 at 3:56 am, Comments: 0

  So, I wrote this explanation of the reality of dark pools earlier today.    Then, after having a few going away drinks with some friends, I [...]

• Dark Pools Are Not Scary Shady Places That Rip Off Average Investors
  Posted by kid dynamite on October 27th, 2009 at 5:57 pm, Comments: 0

  The next step in the discussion about high frequency trading leads logically to the topic of dark pools.  I’m constantly mind-boggled to see the same [...]

• Using High Frequency Trading as a Scapegoat Has Jumped the Shark
  Posted by kid dynamite on October 13th, 2009 at 4:12 pm, Comments: 0

  Matthew Goldstein at Reuters wrote an article about what can go wrong when investors use stop-loss orders. A stop loss order is an order to [...]

• You Really Shouldn’t Care So Much About Flash Trading
  Posted by kid dynamite on September 21st, 2009 at 1:58 am, Comments: 0

  disclaimer: do not waste your time getting sidetracked into OTHER aspects of high frequency trading – this post is about one thing: FLASH TRADING. do [...]

• We Fear What We Don’t Understand
  Posted by kid dynamite on July 26th, 2009 at 10:27 pm, Comments: 0

  “For those who believe, no explanation is necessary. For those who do not, none will suffice.” – Joseph Dunninger. I’ve resisted writing a piece about [...]