4 ms·

I don't think that increased trading activity supports a conclusion that the report leaked. People may have anticipated increased trading after the rapport rel

I don't think that increased trading activity supports a conclusion that the report leaked. People may have anticipated increased trading after the rapport release and may have prepared algorithms to try to gain during this event. The algorithms may have started working before the release. I'm not saying this was actually the case, but my theory is as well supported as the claim in the post.

madaxe 14y ago
You'd only stick algos to automatically sell at a given time if you were mad (as you'd act on a move, not a time) - and the down and half-up tick indicate straddles set around the position. This may have been a single rogue performing an initial sell, causing a drop which caused all the other pre-set strategies held by folks with very close to the exchange links to also sell, and then subsequently buy back to the midpoint.
- niggler 14y ago
  Another HN user described this a long time ago: http://news.ycombinator.com/item?id=2828804 http://news.ycombinator.com/item?id=2828804
  - madaxe 14y ago
    Yup. It's all about parsing FIX faster than the next dude.
    - niggler 14y ago
      In some asset classes (e.g. equities) the exchanges and dealers have built their own proprietary protocols to reduce the excess bytes.
    - pbhjpbhj 14y ago
      No it's about providing market liquidity in order to optimise the efficiency of production. /sarcasm
    - jrockway 14y ago
      Parsing FIX correctly faster than the next dude. I've seen some fast FIX parsers. I've seen few that actually produce correct results :)
deleted 14y ago
[deleted]
reso 14y ago
I even hazard that whether the report "leaked" or not is irrelevant. The really interesting thing here is that, in a world of algorithmic trading, being 400ms late to a party can cost millions of dollars.
incision 14y ago
>...my theory is as well supported as the claim in this post. Are you familiar with Nanex beyond this article?
- mixedbit 14y ago
  No, I'm not, but based on the quality of this post alone, I don't value them much. A respectful source would present a compelling argument for such a claim, whereas this post looks like a marketing trick to attract attention.

madaxe 14y ago

You'd only stick algos to automatically sell at a given time if you were mad (as you'd act on a move, not a time) - and the down and half-up tick indicate straddles set around the position. This may have been a single rogue performing an initial sell, causing a drop which caused all the other pre-set strategies held by folks with very close to the exchange links to also sell, and then subsequently buy back to the midpoint.

niggler 14y ago
Another HN user described this a long time ago: http://news.ycombinator.com/item?id=2828804 http://news.ycombinator.com/item?id=2828804
- madaxe 14y ago
  Yup. It's all about parsing FIX faster than the next dude.
  - niggler 14y ago
    In some asset classes (e.g. equities) the exchanges and dealers have built their own proprietary protocols to reduce the excess bytes.
  - pbhjpbhj 14y ago
    No it's about providing market liquidity in order to optimise the efficiency of production. /sarcasm
  - jrockway 14y ago
    Parsing FIX correctly faster than the next dude. I've seen some fast FIX parsers. I've seen few that actually produce correct results :)

deleted 14y ago

[deleted]

reso 14y ago

I even hazard that whether the report "leaked" or not is irrelevant. The really interesting thing here is that, in a world of algorithmic trading, being 400ms late to a party can cost millions of dollars.

incision 14y ago

>...my theory is as well supported as the claim in this post. Are you familiar with Nanex beyond this article?

mixedbit 14y ago
No, I'm not, but based on the quality of this post alone, I don't value them much. A respectful source would present a compelling argument for such a claim, whereas this post looks like a marketing trick to attract attention.