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Institutional Investor reports: http://institutionalinvestor.com/exchanges_and_trading/Articles/2629734/Big-Asset-Managers-Fight-Rising-HFT-Cancel-Orders.html Large asset managers such as mutual funds and some hedge funds are meeting with legislators and lobbyists in the U.S. to discuss ways to clamp down on the high rate of cancel-and-replace orders originating from high frequency trading firms. “The rhetoric has picked up,” says the head of one bulge-bracket prime broker, who says that banks are also reevaluating their pro-HFT stance. HFT shops send out and cancel orders at a much higher rate than other firms. Some traders told WSL that as many as 90 percent of their orders are canceled, in part because of
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Yesterday’s thoughts were actually unfair. I stated up front that we were going to be positive, as Joe was in South Carolina and away from the office, and then I went on and made some negative points. I brought up Dubai airports with speed-you-through processing. I brought up convergence. I brought up HFT. And I brought up counterfeit toilet paper. [Hey wait… HFT and toilet paper; there is a book chapter in there somewhere… hang on a minute please while I write that down. Ok done. Where were we?] Today before I get positive, please allow me to add this
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