Flash Trading R.I.P.
- Joshua M Brown
- September 18th, 2009
Oh, and spare me the arguments about "liquidity"...
I applaud Mary Shapiro and the SEC's decision to put an end to this practice. On a basic level, high frequency or flash trading was no different than the rounding error scheme from the film Office Space whereby fractions of pennies "that no one would miss" would be skimmed on billions of transactions.
Theft is Theft.
Here are some takes from 'round the web:
So Much for High Frequency Trading (The Big Picture)
Flash Ban Friday (Phil's Stock World)
Flash Trading Halt Backed (Bloomberg)
Full Disclosure: Nothing on this site should ever be considered to be advice, research or an invitation to buy or sell any securities, please see my Terms & Conditions page for a full disclaimer.
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The Reformed Broker is a blog about financial markets and the economy. Joshua Brown is a New York City-based investment advisor for high net worth individuals, charitable foundations, retirement plans and corporations... More. -
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