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Mysterious Algorithm Was 4% of Trading Activity Last Week
Ms Sans Serif
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[quote:Anonymous Coward 1135376:MV8yMDExOTcxXzMzODExMDE4X0U3MTkwRDk1] [quote:Anonymous Coward 25111707:MV8yMDExOTcxXzMzODEwNTQxXzVEQzVFNEZB] It's not a practice run, it's called QUOTE STUFFING and it's a strategy used by High Frequency Traders to confuse the opposition into having to deal with 1000's of quote requests whilst YOU get on with executing arbitrage trades. [/quote] is this like having a camera flash in your face, and then getting sucker punched? "Sensory" overload? [/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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