bjcohen

3 ms·

1. 1.▲
   by bjcohen 13y ago

   Look again - this entire website is clearly a joke.
2. 2.▲
   by bjcohen 13y ago

   I could be wrong, but I don't think that's how settlement works. Making a market would be impractical from a capital perspective for any players. I would assume DTCC nets out its exposure to each clearing member, at the very least
3. 3.▲
   by bjcohen 13y ago

   Paper is here I believe: http://faculty.haas.berkeley.edu/hender/NBBO.pdf . The 377k number is at the bottom of p. 10. Since he believes there's no capital at risk, the starting amount is unimportant.
4. 4.▲
   by bjcohen 13y ago

   No. The primary purpose of Volcker was to stop prop trading at insured banks. Most HFT is done by smaller shops.