On Friday, CNBC called us to book an appearance today on Power Lunch for what we believed was to talk about what they are calling the “flash crash”.  We were prepared to give our take on what actually happened on Thursday.  We were going to say the crash showed a market structure flaw and it was not due to a fat finger.  We were prepared to talk about how  automated “market makers” have little or no obligations today yet enjoy all the benefits that co-lo, direct data feeds and rebates bring.  We were going to mention how the NYSE has been hailing their “circuit breaker” slow model but is about to open a 400,000 square foot data center in Mahwah, NJ that caters to HFT.   If you haven’t seen our notes, they are on this blog.

However, we were informed this morning by CNBC that they wanted to talk about the bailout package and whether or not this rally was real.  Now, we love talking markets but the events of last week still need to be analyzed and discussed.  We have spent over a year analyzing market structure and debunking many HFT myths.  It felt to us that CNBC was trying to change the subject and we are not ready to do that yet.

Instead, look for us tomorrow on Fox Business at 1pm and Bloomberg television at 3pm where we will talk about the problems with our exisiting market structure.