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Subject Mysterious Algorithm Was 4% of Trading Activity Last Week

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Original Message .
... am not in the stock market BUT this doesn't sound good ...
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... "testing" for a BIGGER event? ...
.

[link to www.cnbc.com]

The program placed orders in 25-millisecond bursts involving about 500 stocks, according to Nanex, a market data firm. The algorithm never executed a single trade, and it abruptly ended at about 10:30 a.m. Friday.

The scariest part of this single program was that its millions of quotes accounted for 10 percent of the bandwidth that is allowed for trading on any given day, according to Nanex. (The size of the bandwidth pipe is determined by a group made up of the exchanges called the Consolidated Quote System.)

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