Wir schreiben seit inzwischen über ein Jahr zum Thema "Hochfrequenztrading" und mir ist nicht bekannt, daß die US-Börsenaufsicht sich überhaupt ernsthaft mit dem Thema beschäftigt hat, obwohl zahlreiche US-Kommentatoren die Praktiken der Börsenhandelsroboter im Dienste von spezialisierten US-Handelshäusern scharf kritisieren. Die US-Zeitschrift "The Atlantic" schreibt nun "Market Data Firm Spots the Tracks of Bizarre Robot Traders".
Auszüge:
"In fact, it's hard to figure out exactly what they're up to or gauge their impact. Are they doing something illicit? If so, what? Or do the patterns emerge spontaneously, a kind of mechanical accident? If so, why? No matter what the answers to these questions turn out to be, we're witnessing a market phenomenon that is not easily explained. And it's really bizarre."
"They are moving the high-frequency services as close to the exchanges as possible because even the speed of light matters," in such a competitive market, said Stanford finance professor Peter Hansen."
"Algorithms that might be spoofing the market are something that should be made illegal," said John Bates, a former Cambridge professor and the CTO of Progress Software. But he didn't want this presumably negative practice to color the more mundane competitive practices of high-frequency traders.
"There is algorithmic terrorism and then there is reverse engineering, which is probably just part of good business practice," Bates said. "
Auszüge:
"In fact, it's hard to figure out exactly what they're up to or gauge their impact. Are they doing something illicit? If so, what? Or do the patterns emerge spontaneously, a kind of mechanical accident? If so, why? No matter what the answers to these questions turn out to be, we're witnessing a market phenomenon that is not easily explained. And it's really bizarre."
"They are moving the high-frequency services as close to the exchanges as possible because even the speed of light matters," in such a competitive market, said Stanford finance professor Peter Hansen."
"Algorithms that might be spoofing the market are something that should be made illegal," said John Bates, a former Cambridge professor and the CTO of Progress Software. But he didn't want this presumably negative practice to color the more mundane competitive practices of high-frequency traders.
"There is algorithmic terrorism and then there is reverse engineering, which is probably just part of good business practice," Bates said. "
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