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The above chart is courtesy of Nanex LLC. The green line is the best bid over time (unchanging), and the red is a constantly updating best offer (changing thousands of times per second with no trades). Do you want that “liquidity”? Can you even access those offers if you wanted to?
Jason Zweig, veteran Wall Street Journal reporter, wrote a balanced article over the weekend addressing the assessment of a transaction tax to reign in HFT: Flash Tax: Why Levies on High-Speed Trading Won’t Work. My partner Joe is quoted
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Themis Trading is an independent, no-conflict, institutional agency brokerage firm specializing in equities. The purpose of our blog is for a discussion of market structure issues as well as general market commentary.
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Riddle: Can a stock have both a 52 week high and 52 week low on the same day? Answer: Yes, check out Anadarko (APC) today 21 hours agoBut, but they banned stub quotes. The SEC said so. $APC 21 hours ago
In greatest bull market in history, Equity ETF outflows still $156B between 2010-2012. See comment: ft.com/cms/s/0/9f526b… #LackOfConfidence 8 hours agoI hope you all enjoyed the ThemisSal twitter break yesterday - brought #1 home from college. :) 8 hours ago| Home | Who We Are | The Themis Approach | Market Structure Analysis | Newsroom | Blog | Contact |
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September 8th, 2011 at 3:00 am
“Latency arbitrage” could be caused by outdated and not-well-thought out regulation. Read up on “flickering” exception to NMS at:
http://badalgo.com/quoteflicker.html