Themis Trading Blog

“SIP Crash – The Sequel”

31

Oct, 2014

nanexsip

In August 2013, the Nasdaq SIP  broke and trading in Nasdaq stocks was halted for 3 hours. Yesterday, at 1:07 PM ET, the NYSE SIP broke but trading was allowed to continue until the backup facility was put on line (above is a graphical representation of the outage from Nanex).  The NYSE SIP is overseen by the policy making body known as the Consolidate Tape Association (CTA). According to the CTA:

“The New York Stock Exchange LLC is the Administrator of Network A and NYSE MKT is the Administrator of Network B.”

If you are…
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MadBum Patterson Mows Down Critics and Sets Stage for Examination of Self- Regulation in Liquidity Pools

30

Oct, 2014

bum

Yesterday we highlighted Scott Patterson’s investigative report detailing how the SEC sub-contracted out the management of its EDGAR corporate action database to data firms, who with the SEC’s knowledge and approval sold the data in tiers to – well – to all kinds of firms. Patterson’s piece was quite predictably attacked by the same predictable defenders of modern market structure.

Batting first was Rosenblatt’s Justin Schack, who on Twitter, within seconds, sent out a few prepared high frequency tweets:

Justin Schack @JustinRBLT

(1/8) Just read @WSJ story about…
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US Taxpayers Pay For SEC to Arrange Early Release of Data to High Speed Trading Firms

29

Oct, 2014



Spoofing – Why Do Regulators Treat It Differently?

27

Oct, 2014



The Canadian Cherry-picking “Anti-HFT” Payment for Order Flow Kaleidoscope

24

Oct, 2014



What Really Happened in the US Government Bond Market on the Morning of October 15th?

21

Oct, 2014



Athena – Goddess of War on the Close

17

Oct, 2014



New Market Structure Class Action Lawsuit Focuses on Payment For Order Flow

14

Oct, 2014



Seek Out Tradebook’s Ray Tierney, Give Him A Fist-Bump, and Toss Him A Schlitz!

09

Oct, 2014



Improving VWAP Performance

07

Oct, 2014



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