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Did he elaborate on this?
by Nifty3929 2y ago
Did he elaborate on this?
- LatteLazy 2y agoGoldman and others got in trouble for selling access to the supposedly secret orders in their dark pools back in the day. They were fined 800k I think? I believe dark pools started growing post flashboys when people realising what hft meant and wanted an escape (see comment below). But as they got big they became a target in and of themselves (ecology in action I guess). I worked in algo trading at the time (not hft, but anti hft)
- gaadd33 2y agoDark pools started in the 1980s once the SEC permitted securities to be traded off the exchange they are listed on. I think that was well before flashboys.
- LatteLazy 2y agoI had no idea they went that far back? Good knowledge!
- chipsrafferty 2y agoDark Pools were the original "equitable market"; when market makers were trading in 1/8ths and fixing markets, dark pools enabled people to trade in 0.01 increments.
- QuantumGood 2y agoAnd then they found that some of the liquidity in dark pools was by dark HFT.