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Because time (and money) spent removing old code that's not used right now is time (and money) spent for zero short-term profit increase.
by EliRivers 13y ago
Because time (and money) spent removing old code that's not used right now is time (and money) spent for zero short-term profit increase.
- chris_wot 13y agoWe should let such firms die when they fall over their own crudulence.
- kasey_junk 13y agoKnight never got any government assistance and their trades stood. Unlike when the big I banks mess up, HFT firms tend to pay for their mistakes.
- hga 13y agoWhile some people are drawing lessons from this incident about HFT, I've seen no indication Knight was a major player in that, the summary says they were "*engaging in market making, electronic execution, and institutional sales and trading." I.e. those actions are on the behalf of others, plus stock exchange market makers have obligations to keep what they're responsible for liquid.
- kasey_junk 13y agoIt depends on what your definition of HFT is. But they were frequently responsible for ~20% of equity volume in a day. They were market making purely electronically & at low latency. That hits nearly every definition of HFT that I know.