Commentaries

HFT made easy with Magic Markers

August 13, 2009

The folks at Marketplace, a non-profit financial news show that airs on most public radio stations, takes on high-frequency trading. Paddy Hirsch, the program’s senior editor, does a good job explaining the nuts-and-bolts of this increasingly controversial super-fast trading style.

Dear shareholder…it’s high-frequency trading

August 12, 2009

A few months ago, not many outside of the quant world were talking about high-frequency trading. But these days every one is talking about all the profits a select group of Wall Street firms and hedge funds area making from super-fast, entirely automated algorithmic trading.

Sergey strikes back

August 10, 2009

The case of Sergey Aleynikov, the former Goldman Sachs programmer charged with stealing some of the top secret code to the investment bank’s high-frequency trading program, is going on the offensive.

Flash Schumer scores a victory–almost

August 4, 2009

It appears Senator Chuck Schumer, aka Flash Gordon ,is going to get his way on the dubious practice of “flash trades.” Maybe.

Will Sergey cut a deal?

August 3, 2009

It looks like federal prosecutors may be trying to cut a deal with alleged Goldman Sachs high-frequency trading code stealer Sergey Aleynikov.

High frequency fuzzy math

July 31, 2009

One of the many mysteries swirling around high-frequency trading is just how profitable the lightning-fast buying and selling of stocks, options and commodities really is.

Algos gone wild

July 31, 2009

The many proponents of high-frequency trading keep saying there’s no reason to be concerned about a rogue algorithim sparking a 1987 market-style crash. HFT supporters keep saying show us a case where a rogue algo even caused a minor hiccup in the market.

Wall Street meets The Matrix

July 30, 2009

Michael Durbin is no Wall Street rebel. But Durbin, who has been on the front lines of
high-frequency trading (HFT) since its early days, isn’t afraid to buck the industry line that lightning-fast trading of stock, options and commodities poses little or no risk to the stability of the markets.

Goldman fires back on HFT

July 27, 2009

Goldman Sachs is not known for being particularly forth coming with the press. The investment firm’s two favorite words for dealing with media inquiries are “no comment.”

Schumer aka Flash Gordon

July 27, 2009

There’s an old joke in New York that the most dangerous place is the space between a TV camera and Sen. Chuck Schumer. And the New York Democrat’s love of the limelight certainly was on display late last week with regards to the increasingly controversial subject of high frequency trading.