The Phaserl


HFT Purge Begins: SEC Prepares To “Remove” Some High Frequency Trading Firms

from ZeroHedge:

Ever since Goldman’s anti-HFT Op-Ed less than a month ago, and since the even more recent full-hearted support by Goldman of Michael Lewis’ most recent entry into the anti-HFT crusade (one promoting the Goldman-supported IEX exchange), one thing has been clear: the days of market structure in its current format are numbered. This was further confirmed after Goldman exited both its legacy Spear Leeds & Kellogg designated market making post at the NYSE, and is said to be winding down its market-dominating dark pool, Sigma X.

It also means that our 5 year crusade against HFT – not because we want it replaced with a different, Goldman-backed exchange but because HFTs inherently destabilize the market (see May 2010 and the now daily flash crash in individual stocks and/or exchanges) – and specifically those most profitable but also most parasitic and predatory HFT strategies

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1 comment to HFT Purge Begins: SEC Prepares To “Remove” Some High Frequency Trading Firms

  • Hannon

    “market-dominating dark pool, Sigma X”

    WTF is wrong with these people. I mean really, what kind of diabolical fiend labels things like that, did they let Cobra Commander come up with that name?

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