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Sadly it sounds as if the US Attorney doesn't really understand much about how either the software system worked, or how trading in general works: “The bank ha
by brown9-2 17y ago
Sadly it sounds as if the US Attorney doesn't really understand much about how either the software system worked, or how trading in general works:
“The bank has raised the possibility that there is a danger that somebody who knew how to use this program could use it to manipulate markets in unfair ways,” Facciponti said, according to a recording of the hearing made public yesterday. “The copy in Germany is still out there, and we at this time do not know who else has access to it.”
...
“Once it is out there, anybody will be able to use this, and their market share will be adversely affected,” he said.
It's not as if the software alone allows someone to make trades up to 28% of the size of the overall market.
Maybe if you had their code, infrastructure, co-location, and oh yeah that's right, tens of billions of dollars to make trades with. It's not as if a script kid in Germany is suddenly going to be able to download the trading code for free, and become a multi-millionaire overnight using their trading algorithms without any seed investment.