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ASX revenue from high frequency trading soars
A new data center, catering for high-speed trading, is becoming a major revenue-source for the ASX. My concern is that this could change the entire focus of the ASX, outweighing revenue from...
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NYSE to Pay $5 Million Penalty to SEC – WSJ.com
By CHAD BRAY NYSE Euronext NYX +2.23% agreed to pay a $5 million penalty to settle allegations by the Securities and Exchange Commission that technology issues at the New York Stock Exchange gave some...
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How to keep markets safe in the era of high-speed trading | Chicago Fed
By Carol Clark With the chance of an order passing though controls at so many levels, how can things go wrong? One possibility Chicago Fed researchers found is that most of the trading firms...
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For Superfast Stock Traders, a Way to Jump Ahead in Line – WSJ.com
By SCOTT PATTERSON and JENNY STRASBURG Haim Bodek was a Wall Street insider at Goldman Sachs and UBS before launching his own [high-frequency] trading firm. Mr. Bodek approached the Securities and...
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Anatomy of a flash crash | Fiscal Times
By John Kemp ANATOMY OF A FLASH CRASH In their report on the 2010 equity market crash, the SEC and CFTC staff found that “against a backdrop of unusually high volatility and thinning liquidity, a large...
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EU: Trades Must Live for Second | Securities Technology Monitor
By Laton McCartney Members of the European Parliament tightened up the EU’s proposal on high-frequency algorithmic trading, voting that all high-frequency trading orders should be valid for one half...
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The high frequency trading threat
Extract from a paper by Tom McDonald at the Australian Risk Policy Institute (ARPI), as quoted by Sell On News at Macrobusiness.com.au: The principal purpose of capital markets is to facilitate the...
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How Regulations Led to High-Frequency Trading
John Carney writes that high frequency trading is an unintended consequence of regulatory action to remove market specialists: High frequency trading grew up in the aftermath of a decades-long struggle...
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High-Speed Traders Profit at Expense of Ordinary Investors, a Study Says |...
NATHANIEL POPPER and CHRISTOPHER LEONARD write: The chief economist at the Commodity Futures Trading Commission, Andrei Kirilenko, reports in a coming study that high-frequency traders make an average...
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High Frequency Trading Fake Quotes | Business Insider
Linette Lopez writes: Nanex, a Chicago-based market research firm, sent us a chart that illustrates what can stand in a trader’s way when they’re trying to quote the right price…… “It happens all the...
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ASIC: High-frequency trading taskforce—Key findings
Findings of the recent ASIC investigation into dark liquidity and high-frequency trading. The high-frequency trading taskforce found that: (a) some of the commonly held negative perceptions about...
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The High-Frequency Trading Arms Race: Frequent Batch Auctions as a Market...
Extract from a paper by Eric Budish, Peter Cramton, and John Shim proposing that frequent batch auctions — uniform-price double auctions conducted at frequent but discrete time intervals (e.g. every 1...
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Wall Street goes “Putin” on IEX
From Michael Lewis: One of our financial sector’s most striking traits is how fiercely it resists useful, disruptive entrepreneurship that routinely upends other sectors of our economy. People in...
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