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Mysterious Algorithm Was 4% of Trading Activity Last Week
Ms Sans Serif
In accordance with industry accepted best practices we ask that users limit their copy / paste of copyrighted material to the relevant portions of the article you wish to discuss and no more than 50% of the source material, provide a link back to the original article and provide your original comments / criticism in your post with the article.
[quote:Ohwell:MV8yMDExOTcxXzMzODA4ODAwX0JFQTI4MzY0] [quote:shadasonic:MV8yMDExOTcxXzMzODA4NDk0XzYxMTcwNTUw] Thats a definite practice run,crazy days ahead! [/quote] Testing waters??? Hmmm, with the elections in sight? Will it still hold? [/quote]
... am not in the stock market BUT this doesn't sound good ...
... "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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