3 ms·
> where the price moves before the guy hits enter. Can you give a page # reference for this? In the scene I recall, the price is stable on all exchanges for mi
by gammarator 11y ago
> where the price moves before the guy hits enter.
Can you give a page # reference for this? In the scene I recall, the price is stable on all exchanges for minutes--until they hit enter on very small order to BATS, at which point the prices increase on the exchanges further away.
- MichaelGG 11y ago“I hadn’t even hit Execute,” says the hedge fund president. “I hadn’t done anything but put in a ticker symbol and a quantity to buy. And the market popped.” From location 142/505. And this is supposed to be the guy in charge of a $9B fund. The next page continues to state that all the big players (like Vanguard) have no clue how markets work. As if these evil HFT wizards live in another dimension where you can't just, I dunno, interview them. Or hire them. Or buy their companies. The lulz never stop. Next paragraph has an amazing quote about colocation "What the fuck??!! That's got to be illegal!" I guess if you act incredulous, insulted, upset, and bewildered, any mundane thing can turn into a sinister conspiracy. The sad part is that people are taking this book seriously, and politicians even seem to be "addressing" it as a campaigning point? Sigh.