4 ms·
none of the things you said describe a mechanism for how hft can topple society / endanger markets / other non specific harms. seriously, reread your comment.
by andylei 14y ago
none of the things you said describe a mechanism for how hft can topple society / endanger markets / other non specific harms.
seriously, reread your comment. now apply it to online shopping, telephone systems, satellites, air traffic control, etc. it applies to literally everything involving technology. should it all be banned?
- damoncali 14y agoI never said HFT. I said out of control computer algorithms. The point is that the markets should not tolerate cowboy coders breaking things in a way that endagers the whole system. Knight failed catastrophically. There is your mechanism. No go apply that to a larger, more unstable part of the market. What if Knight was BofA? Bad things can happen, and if the best argument for this sort of thing is "liquidity", thanks, but no thanks. We have enough of that already. I'm all for letting people gamble when they are the ones who take the loss. But we know that is just not how Wall St works at present time. That needs to change.