3 ms·

> My millionth of a second is different than yours, and everyone else’s. No it isn't. > I want the transaction to happen as quickly as possible. So does every

> My millionth of a second is different than yours, and everyone else’s. No it isn't. > I want the transaction to happen as quickly as possible. So does everyone else. Your monitor refresh is about 16,000 times slower so you aren't going to know. The only reason you need something faster is because you think you have to compete with other people trading on microseconds. If matches happened at 1 second intervals you wouldn't have to worry about it at all.

JumpCrisscross 1y ago
> If matches happened at 1 second intervals you wouldn't have to worry about it at all This is nonsense. There is still advantage to submitting your trade as close to that settlement deadline as possible.
- CyberDildonics 1y ago
  Not so much if the submitted prices are hidden until the matches are resolved.
  - JumpCrisscross 1y ago
    > Not so much if the submitted prices are hidden until the matches are resolved Except every other exchange is still revolving. The only way to implement this is to eliminate competition between exchanges. Also, Wall Street would love this. The more of the order book you submitted, the more information you have about its composition.
    - deleted 1y ago
      [deleted]
    - CyberDildonics 1y ago
      The only way to implement this is to eliminate competition between exchanges. There are two different things being talked about here. Trading based on arbitrage between exchanges will happen in one way or another no matter what. Trading millions of times per second automatically on the same exchange when some people have low latency computers at the exchange with huge amounts of extra information is not necessary. Also, Wall Street would love this. The more of the order book you submitted, the more information you have about its composition. The point isn't to make something 'wall street hates' it's to make something that doesn't get money eaten away by automated computers in the middle so that it's the best option for people making trading decisions on people time scales.
      - KPGv2 1y ago
        > The point isn't to make something 'wall street hates' it's to make something that doesn't get money eaten away by automated computers in the middle so that it's the best option for people making trading decisions on people time scales. Why is this desirable? It seems like an argument designed only to serve the interests of a small class of person who insists on doing manual trades themselves. The rest of what you've written just sounds like "I lost money because computers are better than me at the task." I'm not sympathetic to that concern. Computers are better than me at lots of things, so I just don't try to compete at those things. I pay people with access to the computers to do them for me, and then I focus on the things I'm good at instead. Division of labor and all that.
        UltraSane 1y ago
        Anyone who isn't involved in HFT should be in favor of rules that slow down trades to human time scales. HFT currently favors a small class of rich people.
        JumpCrisscross 1y ago
        > Anyone who isn't involved in HFT should be in favor of rules that slow down trades to human time scales What are you basing this on? I’m a former algorithmic market maker. Every plan to “slow down trades to human time scales” I’ve seen were trivially gameable. They were always proposed by a group of concerned citizens, and then jumped on by my bosses, because if the market is slowed down to pre-HFT speeds, Wall Street can make pre-HFT profits on risk-free trading again. Do you think the internet would work better if we forcibly increased latency? If we did, if the argument were this would flatten the market and better let small websites compete with CDNs, do you think that would actually happen? Google and Cloudflare would say “oh well,” and disassemble their servers? Our markets have structural problems. They are mostly solvable. HFT is none of them, which is why you keep hearing about it from folks who don’t want reform.
        serf 1y ago
        I feel like all of these points beg us to loop around and ask the question : "How does HFT provide social benefit to the world at large?" the exchanges weren't established for the abstract sake of money, they were established to provide benefit to people. Does HFT still do this overall, or is it for the benefit of a small in-group of elite? Why is that favorable? Because we nobodies can buy the ETF?

JumpCrisscross 1y ago

> If matches happened at 1 second intervals you wouldn't have to worry about it at all This is nonsense. There is still advantage to submitting your trade as close to that settlement deadline as possible.

CyberDildonics 1y ago
Not so much if the submitted prices are hidden until the matches are resolved.
- JumpCrisscross 1y ago
  > Not so much if the submitted prices are hidden until the matches are resolved Except every other exchange is still revolving. The only way to implement this is to eliminate competition between exchanges. Also, Wall Street would love this. The more of the order book you submitted, the more information you have about its composition.
  - deleted 1y ago
    [deleted]
  - CyberDildonics 1y ago
    The only way to implement this is to eliminate competition between exchanges. There are two different things being talked about here. Trading based on arbitrage between exchanges will happen in one way or another no matter what. Trading millions of times per second automatically on the same exchange when some people have low latency computers at the exchange with huge amounts of extra information is not necessary. Also, Wall Street would love this. The more of the order book you submitted, the more information you have about its composition. The point isn't to make something 'wall street hates' it's to make something that doesn't get money eaten away by automated computers in the middle so that it's the best option for people making trading decisions on people time scales.
    - KPGv2 1y ago
      > The point isn't to make something 'wall street hates' it's to make something that doesn't get money eaten away by automated computers in the middle so that it's the best option for people making trading decisions on people time scales. Why is this desirable? It seems like an argument designed only to serve the interests of a small class of person who insists on doing manual trades themselves. The rest of what you've written just sounds like "I lost money because computers are better than me at the task." I'm not sympathetic to that concern. Computers are better than me at lots of things, so I just don't try to compete at those things. I pay people with access to the computers to do them for me, and then I focus on the things I'm good at instead. Division of labor and all that.
      - UltraSane 1y ago
        Anyone who isn't involved in HFT should be in favor of rules that slow down trades to human time scales. HFT currently favors a small class of rich people.
        JumpCrisscross 1y ago
        > Anyone who isn't involved in HFT should be in favor of rules that slow down trades to human time scales What are you basing this on? I’m a former algorithmic market maker. Every plan to “slow down trades to human time scales” I’ve seen were trivially gameable. They were always proposed by a group of concerned citizens, and then jumped on by my bosses, because if the market is slowed down to pre-HFT speeds, Wall Street can make pre-HFT profits on risk-free trading again. Do you think the internet would work better if we forcibly increased latency? If we did, if the argument were this would flatten the market and better let small websites compete with CDNs, do you think that would actually happen? Google and Cloudflare would say “oh well,” and disassemble their servers? Our markets have structural problems. They are mostly solvable. HFT is none of them, which is why you keep hearing about it from folks who don’t want reform.
        serf 1y ago
        I feel like all of these points beg us to loop around and ask the question : "How does HFT provide social benefit to the world at large?" the exchanges weren't established for the abstract sake of money, they were established to provide benefit to people. Does HFT still do this overall, or is it for the benefit of a small in-group of elite? Why is that favorable? Because we nobodies can buy the ETF?