3 ms·

His complaint was that the post failed to explain why 15ms liquidity has any value, not the terminology. I didn't detect any sarcasm there.

tptacek 15y ago
I think if you read his comment just a little more carefully you'll see what I was responding to. I don't have a "side" in this particular debate.
- mattmanser 15y ago
  I totally don't understand what you're on about, sorry. Paul summed up my point perfectly. You seem to be forming a habit of ascribing things to me I didn't say. It's getting a little embarrassing/annoying.
  - tptacek 15y ago
    "All you've done is talk about the process with as many technical words as you could"
  - nihilum 15y ago
    > Apart from mini-crashes. The Flash Crash was caused by the NYSE's faulty time-stamping system. It essentially broadcast false information that caused traders to think there was an arbitrage opportunity. This was entirely the NYSE's fault. See here for details: http://www.nanex.net/20100506/FlashCrashAnalysis_Part3-1.html http://www.nanex.net/20100506/FlashCrashAnalysis_Part3-1.htm... > And massive profits for companies that create nothing They prevent you from paying even more to corrupt exchange specialists. This creates billions of dollars a year in value. They also have a neat ability to help the market recover from irrational crashes in 20 minutes, instead of lingering there for days or months while everyone is too scared to provide liquidity. > and actually were the cause of the recent financial meltdown. HFT is completely unrelated to the financial meltdown. The financial meltdown was caused by a housing bubble. HFT market makers don't even trade mortgage-backed securities. Those were traded over-the-counter (basically via phone calls) by investment banks. If you don't know what these words mean, then look them up instead of complaining about it. If you want to make a point, it is your obligation to understand the subject matter. Don't argue about things you don't understand.

tptacek 15y ago

I think if you read his comment just a little more carefully you'll see what I was responding to. I don't have a "side" in this particular debate.

mattmanser 15y ago
I totally don't understand what you're on about, sorry. Paul summed up my point perfectly. You seem to be forming a habit of ascribing things to me I didn't say. It's getting a little embarrassing/annoying.
- tptacek 15y ago
  "All you've done is talk about the process with as many technical words as you could"
- nihilum 15y ago
  > Apart from mini-crashes. The Flash Crash was caused by the NYSE's faulty time-stamping system. It essentially broadcast false information that caused traders to think there was an arbitrage opportunity. This was entirely the NYSE's fault. See here for details: http://www.nanex.net/20100506/FlashCrashAnalysis_Part3-1.html http://www.nanex.net/20100506/FlashCrashAnalysis_Part3-1.htm... > And massive profits for companies that create nothing They prevent you from paying even more to corrupt exchange specialists. This creates billions of dollars a year in value. They also have a neat ability to help the market recover from irrational crashes in 20 minutes, instead of lingering there for days or months while everyone is too scared to provide liquidity. > and actually were the cause of the recent financial meltdown. HFT is completely unrelated to the financial meltdown. The financial meltdown was caused by a housing bubble. HFT market makers don't even trade mortgage-backed securities. Those were traded over-the-counter (basically via phone calls) by investment banks. If you don't know what these words mean, then look them up instead of complaining about it. If you want to make a point, it is your obligation to understand the subject matter. Don't argue about things you don't understand.