Stock Market - Flash Boys

[YoUDeeMan]

Surprised no one posted this yet.

Stock market rigged. Surprised?

Fascinating story...and the money spent is crazy. But, pennies add up to billions.

"If you buy 1,000 shares of Apple, the order is made on a series of 13 public exchanges throughout northern New Jersey that are connected by fiber-optic cables. Your order pings along the cables from exchange to exchange, buying a few shares at each stop along the way in order to seek the best possible price. As it does, it bumps into high-speed trader’s hub plugged into the exchanges that track trade data at ultra fast rates.

When high-speed traders’ computers recognize that Apple shares have been ordered, they flash ahead of your order, racing it to the next exchange through specially constructed fiber-optic lines, buy the Apple share first, and sell it back to you at marginally higher price. Over and over again, millions of each time each day, high-speed traders beat your trade by a matter of milliseconds, netting huge profits, and costing you a few pennies per share you trade."


http://time.com/46319/high-speed-tradin ... lewis-fbi/" onclick="window.open(this.href);return false;

Great video...60 Minutes episode from Sunday:

http://www.cbsnews.com/videos/is-the-us ... et-rigged/" onclick="window.open(this.href);return false;

More details...

http://www.cbsnews.com/news/michael-lew ... lash-boys/" onclick="window.open(this.href);return false;

[bandl]

Surprised no one posted this yet.

Stock market rigged. Surprised?

Fascinating story...and the money spent is crazy. But, pennies add up to billions.

"If you buy 1,000 shares of Apple, the order is made on a series of 13 public exchanges throughout northern New Jersey that are connected by fiber-optic cables. Your order pings along the cables from exchange to exchange, buying a few shares at each stop along the way in order to seek the best possible price. As it does, it bumps into high-speed trader’s hub plugged into the exchanges that track trade data at ultra fast rates.

When high-speed traders’ computers recognize that Apple shares have been ordered, they flash ahead of your order, racing it to the next exchange through specially constructed fiber-optic lines, buy the Apple share first, and sell it back to you at marginally higher price. Over and over again, millions of each time each day, high-speed traders beat your trade by a matter of milliseconds, netting huge profits, and costing you a few pennies per share you trade."


http://time.com/46319/high-speed-tradin ... lewis-fbi/" onclick="window.open(this.href);return false;

Great video...60 Minutes episode from Sunday:

http://www.cbsnews.com/videos/is-the-us ... et-rigged/" onclick="window.open(this.href);return false;

More details...

http://www.cbsnews.com/news/michael-lew ... lash-boys/" onclick="window.open(this.href);return false;

I watched this on 60 minutes. I thought it was so fascinating, I made my wife watch it. She usually prefers shit like Housewives of Montana and the Bachelor, but even she admitted it was quite interesting.

[VictorG]

Perfect example of people who should be shot on sight!

[kalm]

The SEC has announced its own probe, and Eric Schniederman, New York state’s attorney general Eric Schneiderman said on Monday high-speed trading “may be illegal.” Meanwhile, proponents say there’s nothing illegal to simply trading stocks very quickly, and anticipating the market is not the same as cheating. Manoj Narang, the chief executive of the high-frequency trading firm Tradeworx told the New York Times, “There’s no unfair advantage to using your brain, last time I checked, in a capitalist society.”

[dbackjon]

How is this not insider trading?

All involved need to be jailed.


Oh wait, we never jail Wall Street Crooks

[Ursus A. Horribilis]

saw that on 60 minutes the other night as well and as is everyone else found it pretty interesting and informative.

Loved that they added 60 km of fiber to some of the exchanges to slow them down in the new setup the dude made as well.

[93henfan]

I'm only guessing, but I'll bet the Jews did this.

Every time there's a scheme, you can bet some hook nose Madoff with the money.

[89Hen]

I watched this on 60 minutes. I thought it was so fascinating, I made my wife watch it. She usually prefers shit like Housewives of Montana and the Bachelor, but even she admitted it was quite interesting.

Mrs89 and I both watched it too, and I almost never watch news shows.

[bluehenbillk]

I've read about it. No surprise. Capital punishment for the culprits IMO.

[ASUG8]

.

[ASUG8]

How is this not insider trading?

All involved need to be jailed.


Oh wait, we never jail Wall Street Crooks

Blue states.

[Grizalltheway]

How is this not insider trading?

All involved need to be jailed.


Oh wait, we never jail Wall Street Crooks

Blue states.

Yeah, I'm sure the guys doing this are real bleeding hearts.

[YoUDeeMan]

Blue states.

Yeah, I'm sure the guys doing this are real bleeding hearts.

Plenty of greedy Libs out there who bend the rules to line their pockets with other people's money. In fact, Libs LOVE to take money from other people...it is what they do for their version of the collective good.

[Skjellyfetti]

How many Conks are in favor of increasing regulation over the stock market?

Is there a way to fix this without more regulation or enforcement?

[Ursus A. Horribilis]

How many Conks are in favor of increasing regulation over the stock market?

Is there a way to fix this without more regulation or enforcement?

Yes, if you saw the story the guy that noticed it came up with a fairly simple plan of identifying the problem and slowing the perpetrators down to the speed of everyone else.

Of course that's only on the exchange he started but I'd think it could be done and probably will be done that way in the traditional stock market now that this has come to light.

[CitadelGrad]

How many Conks are in favor of increasing regulation over the stock market?

Is there a way to fix this without more regulation or enforcement?

Yes, if you saw the story the guy that noticed it came up with a fairly simple plan of identifying the problem and slowing the perpetrators down to the speed of everyone else.

Of course that's only on the exchange he started but I'd think it could be done and probably will be done that way in the traditional stock market now that this has come to light.

Now that it has come to light? I guarantee you that the SEC and Congress have been aware of HFT for a very long time.

[CitadelGrad]

How many Conks are in favor of increasing regulation over the stock market?

Is there a way to fix this without more regulation or enforcement?

Nice false premise. There isn't anyone (except Wall Streeters like Democrats Bob Rubin and Larry Summers) who believe there should be no regulation or enforcement. There are already laws against insider trading, which are the laws that apply in this instance.

[Skjellyfetti]

Nice false premise. There isn't anyone (except Wall Streeters like Democrats Bob Rubin and Larry Summers) who believe there should be no regulation or enforcement. There are already laws against insider trading, which are the laws that apply in this instance.

Which is why I said "increasing regulation" and "enforcement"

[YoUDeeMan]

Nice false premise. There isn't anyone (except Wall Streeters like Democrats Bob Rubin and Larry Summers) who believe there should be no regulation or enforcement. There are already laws against insider trading, which are the laws that apply in this instance.

Which is why I said "increasing regulation" and "enforcement"

You must be kidding. Pelosi & Co. already benefit from insider trading...they are allowed to make trades BEFORE they pass legislation that they know will impact the market.

[Skjellyfetti]

Ugh. Impossible to have a discussion on here. What the fuck did I say about "Pelosi & Co."?

I asked if y'all think there should be a) more regulation and /or b) more enforcement?

I assume you think there should be more enforcement based on your response - specifically, enforcement of "Pelosi & Co." OK. I agree. Whether it's a Republican or Democrat doing it.... white collar crime should be dealt with more harshly.

We fucking agree on shit and y'all just kneejerk.

[YoUDeeMan]

Yes, if you saw the story the guy that noticed it came up with a fairly simple plan of identifying the problem and slowing the perpetrators down to the speed of everyone else.

Of course that's only on the exchange he started but I'd think it could be done and probably will be done that way in the traditional stock market now that this has come to light.

Now that it has come to light? I guarantee you that the SEC and Congress have been aware of HFT for a very long time.

Absolutely.



The SEC is a paper tiger. I worked briefly for a company that specialized in trading stocks. They sold their clients SPEED. Algorithms/computer trading have dominated trading for many years, and EVERYONE knew that companies with faster connections/systems and better algorithms got their trades in at better prices. Cripes, Wall Street firms have been hiring tech geeks and putting them to work SPECIFICALLY to find an edge in trading speed.

But, even without todays computing speed, insiders have always had an advantage. After hours trades/before hours trades have been around forever...and traders have always tried to find ways to take advantage of time differences, even a few seconds, between markets around the world. SEC regulations are always playing catch up...and they don't even start to try to catch up until someone cries foul (LONG after billions have traded hands).

The SEC, Obama, and Congress will do nothing but put on a dog and pony show. Obama has yet to go after Wall Street and he isn't about to start now.

[YoUDeeMan]

Ugh. Impossible to have a discussion on here. What the fuck did I say about "Pelosi & Co."?

I asked if y'all think there should be a) more regulation and /or b) more enforcement?

I assume you think there should be more enforcement based on your response - specifically, enforcement of "Pelosi & Co." OK. I agree. Whether it's a Republican or Democrat doing it.... white collar crime should be dealt with more harshly.

We fucking agree on shit and y'all just kneejerk.

Let me refresh your memory.

How many Conks are in favor of increasing regulation over the stock market?

You are as partisan as they come, so get off your pedestal.

Yes, white collar crime should be dealt with more harshly. Yet OBAMA SPECIFICALLY RAN A CAMPAIGN PROMISNG TO DEAL WITH/CLEAN UP WALL STREET, and Pelosi rails against the Wall Street machine while engaging in blatant insider trading...and here we are with ZERO to show for both of those windbags.

Any windbag, Conk or Donk,...but at least most of those clowns didn't blatantly lie about wanting to clean up Wall Street.

I guarantee you the SEC/FBI/Congress/Obama/Holder/the Courts will NOT be prosecuting ANYONE regarding this trading issue. There might be a dog and pony show, but it will all blow over with no one serving time.

That is unfortunate.

[kalm]

Ugh. Impossible to have a discussion on here. What the fuck did I say about "Pelosi & Co."?

I asked if y'all think there should be a) more regulation and /or b) more enforcement?

I assume you think there should be more enforcement based on your response - specifically, enforcement of "Pelosi & Co." OK. I agree. Whether it's a Republican or Democrat doing it.... white collar crime should be dealt with more harshly.

We fucking agree on shit and y'all just kneejerk.

Let me refresh your memory.

How many Conks are in favor of increasing regulation over the stock market?

You are as partisan as they come, so get off your pedestal.

Yes, white collar crime should be dealt with more harshly. Yet OBAMA SPECIFICALLY RAN A CAMPAIGN PROMISNG TO DEAL WITH/CLEAN UP WALL STREET, and Pelosi rails against the Wall Street machine while engaging in blatant insider trading...and here we are with ZERO to show for both of those windbags.

Any windbag, Conk or Donk,...but at least most of those clowns didn't blatantly lie about wanting to clean up Wall Street.

I guarantee you the SEC/FBI/Congress/Obama/Holder/the Courts will NOT be prosecuting ANYONE regarding this trading issue. There might be a dog and pony show, but it will all blow over with no one serving time.

That is unfortunate.

This.

Cant wait for a conk prrsident to clean up this mess.

[Ursus A. Horribilis]

Yes, if you saw the story the guy that noticed it came up with a fairly simple plan of identifying the problem and slowing the perpetrators down to the speed of everyone else.

Of course that's only on the exchange he started but I'd think it could be done and probably will be done that way in the traditional stock market now that this has come to light.

Now that it has come to light? I guarantee you that the SEC and Congress have been aware of HFT for a very long time.

I assumed it was pretty obvious the light I was referring to was the public light. I won't profess to know what the SEC knows about the front loading that was/is happening. But I sure wouldn't argue against them knowing.

[kalm]

Now that it has come to light? I guarantee you that the SEC and Congress have been aware of HFT for a very long time.

I assumed it was pretty obvious the light I was referring to was the public light. I won't profess to know what the SEC knows about the front loading that was/is happening. But I sure wouldn't argue against them knowing.

I know you don't like getting caught up on the weeds, but the "regulators"
have a revolving door with Wall Street.