Can you do a reportage about the flash crash on the GBPUSD that occured the 7th of October 2016 at 00h07 ? In 2 minutes, -6% on the pound... wasn't this programmed to get the stops of early buyers ? Markets are all rigged ! Mother fuckers land.
Here's a tip for you: in September, if all goes well, we will publish a 2018 documentary from Marije Meerman about the 10 years after the crash of Lehman Brothers: have we learned from our previous mistakes? Could we be on the verge of a crash again?
Could you imagine if you by some freak luck placed a trade during the flash crash and your order was filled for pennys on the dollar? Or if you sold your position before the news broke, because it said the news lagged behind what the markets were doing, and got pennies on the dollar for your trade only to find out that the stock return to normal shortly after? Must have been a hell of a day.
Listening to Flash Boys, cannot believe the differences in technology microsecond speeds in the Exchanges, and in the hft firms. A bit like running a donkey and a sloth against a Dragster in the same race. Then there was GS before Vlad got hold of it. Talk about smoke and mirrors on a turtle. The guy at 17 minutes is talking about Ram and those ideas have been superceded by CPU code. Either way its a loaded game - the same players always win and are protected by the SEC / we are stonewalled by them. Feb 6th 2018 - 7 years later, there are plenty of HF Trading jobs advertised in small and large firms.
48:03 - Stocks in the US just in the last 10 years have had two distinct declines of more than 50%. So, to make 5%, you are risking half your money. That to me is an awful trade.
You don't scoot when you see the crash, YOU BUY THE CRASH. Well, Warren Buffet did, and look where he is now.
Jamie Pearson go back to sleep, if you have a mortgage with the bank, if you have a superannuation fund with a investment firm that’s your savings that you’ve accrued by applying your trade and your skill.
Then these unethical criminals
Play roulette with that money, and you say If you can’t afford to lose then don’t risk it?
The sheer idiocy in this video can be summed up as front-running, bank insider fraud, smart algorithms bankrupting smaller algorithms, put SEC agents on your pay roll, and you can get away with anything when you put a stick carving man in charge of observing the stock market.
what i don't get is why the SEC isn't allowed to disclose to the public all the information
i mean this is a crisis that affects the whole nation, as a democracy pledged to serve the people shouldn't the US gov be as transparent about this as possible?
wtf, the spikes in price aren't hard to explain at all. Market makers and hft's pulled their quotes leaving a huge b/a spread. If the bid is at $40 and the ask at $60, then every time someone places a market buy order the price spikes and every time someone places a sell market order, it crashes. The fact that their expert didn't even know that makes me question the legitimacy of the documentary (or it's "expert").
And the large crashes are stop orders, not hft's selling 3000 contracts at a time. Why on earth would anybody buy 3000 contracts over time and sell them at market when there is no liquidity? That literally makes no sense. They would lose on more than 99% of their trades.
Its funny he couldn't explain the bid higher than the ask part. there are two or more possible scenarios here. Bbox couldve executed the price at the ask and sold it to a limit order,the higher bid, resulting in massive profit (of course depending on the size). It cant be a delay because it could never reach from 40 to 60 unless its really volatile. the spread is just huge. the other scenario im thinking about is someone put a market order and the algos decided to fuck him over 20 points spread lol. Would love to discuss other possibilities
46:30 When I heard that they use evolving algorithms to let the computers learn how to trade better that blow my mind. Maschine learning techniques made such great leaps in the last years it is clear to me that they use them for finance as well.
*_If user friendly, risk free and free auto trading app is what you want right now, than this == > _**_https://t.co/en6WYiVZWq_**_ has to be the answer for you because it has everything that you can ever dream for._*
Lol at the end these guys admitted that they don't own any stocks... if they don't even trade stocks then they are in no position to give advice in how to invest because they don't know how to. But that part on metamorphic machine learning HFT algorithms was really fascinating!
A lot of government regulation has by nature a "conflict of interest". The only way to get people who really know the industry well enough to regulate it is by hiring those who have worked in it their entire lives. Judges are old lawyers, secretaries of treasury are ex-Goldman Sachs executives, and SEC agents are like you mentioned ex Lehman Brothers. It stinks but it is everywhere and it makes sense to a level of why it is but I agree, maybe it should change, these are the real conversations that need to be on the news.
I think it was a global test efforts, for research purposes. Was there a major news/ event on that day or week? If not it was a test to see possibilities and capabilities. CNBC knows whats up, something don't make sense.
You have to read between the lies smoke and mirrors. A small group of people got extremely rich sorry added more wealth to there cash hoppers during this crash. Find out who made money during this period you will have the culprits.
I think one of the big mystery is how all those algo from different firms in play during the crash decided they reached equilibrium at the bottom and decided to rally, surprisingly to the roughly same level as before the crash happenned.
+Kecap Manis No mystery.. had sloppy algos in 2008.. dumbass moves like pull out 500 contract at last market depth position ,, so it looks like a serious buy.. that strategy is easily picked up now,, my algo does it , an the computer laughs.. i dont have time to even look at it..Only diff is that i start a bank that is transparent, an believe me u cant have a bank without algo.\
The market wipes other institutions out .. thats why it went down that far, its no mystery when its War. Much improved on bullets , dont u think?
+Kecap Manis Not a mystery. Algorithms may be different, differently designed and executed, but the goal behind all is the same - save assets in the event of a crash. That is convergence and that's why they all seemed to rally. The next big thing will probably be an algorithm that handles a crash in such a way as to make profit (short sales?). The race is probably on right now, just no apparent winner just yet.
Perhaps there was one dominant algo that caused the "turning point" and other algos thought the price has reached bottom and started to rally. Chaos Theory? Understandably the rebound is quite as fierce as the drop. I like to think of it as a stretched rubber band.
oh.. its jus the isolated glitch reporting, of falls ,, what about the N Korea atomic test in 2007 market fell 1000 points in 30min, turned around an went straight back thru within 1hr
realize 70% trading is insider that moves the market according to FED RES deflation modelling. Since they removed the identity of each block purchase institution in 02 , auto trading has been increasing .. u can see the settling time from the overshoots..
naturally .. correct. esp that i am reading Alans BS biography on the crash .. How this glitch occurred ..no idea .. i recall the video, as i own IP on trading algorithms.. writing a real time NYSE feed clipper.. i dont think this video was commented on.. the interviewer is not female
I know and understand that the markets are manipulated...I believe if you don't know that going in you didn't do much homework so shame on you and if you got in knowing that the markets are manipulated and you still got in...SMH.......But I know what I got into I try to feed off that and gather information to help me gain from it. Just once I would like to see a positive Wall Street youtube video about Wall Street. The idea that everyone on Wall Street are cruel and low life people is no different than saying a certain race of people are ALL cruel and low life.
+Rick Williams You get a trading job in Wall Street by showing that you are only interested in making as much money as possible, in the shortest amount of time. The firms weed out anybody who might have any kind of ethical conscience about ripping off clients or trading on insider information because that is seen as a weakness. Therefore it is going to be tough to show anybody in a positive light, given the type of personality that is successful in that line of work.
This is such a lie, someone is controlling the market. Yes a small group of people, most of the time they work together but sometimes they have infighting but at he end of the day they are all skimming money from everyone else so they kiss and make up.
+HIM Solar Gate That is a complete fallacy and one that needs to be killed. The U.S. market is where the world goes to find liquidity. There is no such thing as any player or "Black Box" that controls how that market moves.
Basically there are two kinds of firms, those that have some serious insight into the marketplace - i.e.;
1. Firms that have and continue to develop a particularly good model or set of models, that work well against market conditions this is where there is quite often actual market value or at least no serious harm caused in the marketplace - if someone makes a computer algorithms that are sufficiently reliable enough to trade autonomously and be consistently profitable,
2. Firms that have taken some advantage of the particular architecture or regulatory rule-set - such that they can make some marginal profit typically this is done because of very fast trading capacity at the sub 1second time-frame, (and often down near the millisecond level) however these systems are different because they are not "smart" so much as clever - taking advantage of other customers in an almost parasitic way, Haim Bodek makes an excellent case that the market is toxified by these kinds of firms, which are typified by calling them "front-runners" - if you can get your order for 100 shares of ABC, ahead of someone buying 10,000 shares of ABC, it's almost certain that the price for ABC will be going up as the market tries to meet the demand for ABC presented by the big order.
There has always been tools and ways of doing things faster, this is just an extension and an evolution of that. Compared to the old 1920's model of calling your broker over the phone and waiting 20min for a fill, now anybody at home can trade stocks with 1sec execution time, and everybody sees it as a good thing.
Now the execution is much faster, and all of a sudden everybody is up in arms about the end of the world.
What should be the perfect execution time then? Is there a magical number at which we say "Ok, nobody buy/sell stocks quicker than x msec !!"
This is similar to the whole "The car killed the horse industry" rubbish.
"making money by not doing any work?" What a flippant,stupid statement. All kinds of people work to earn money and then put in the markets. Thats why they go up,for the most part. And you're happy when it goes down? What a jerk.[47:50]
Nothing to do with the merit of the underlying. No different than your 16 year old with his video game. Then the possibility for legislation has been captured due to that careers are made by keeping it viable. We look into the abyss and see ourselves. All in the interest of avoiding real work and real sweat equity.
+Kyle R the market is one entity, if DOW moves, so does the Nikkei, if the Nikkei moves so does USDJPY, if USDJPY moves so does CADJPY, if CADJPY moves WTI Crude will move, if WTI moves, this may alter economist outlook of the future which will change the opinions of investors. It's all inter-related
There are 3 major pitfalls with reaching consensus around the outcome of an event.
These fully specified, manipulation resistant, and publicly verifiable events form a necessary foundation for sound prediction markets. Without this foundation, prediction markets are subject to confusion, manipulation, and abuse. Though sometimes tricky, many prediction events exist that satisfy all of the criteria listed above. As the world moves forward into the realm of decentralized prediction markets, it will be important to keep in mind the pitfalls associated with many naive prediction events.
Sia , by Nebulous Inc., is a blockchain-based decentralized cloud storage platform.
Capital Markets Blockchains Are Finally Getting Go-Live Dates.
Assembled in New York this week, a handful were even confident enough to give firm timetables for production. For those tired of blue-sky talk, it was refreshing to hear large-scale financial infrastructure projects discussed openly and frankly, in clear terms of where they are and when we can expect to see things going live.
Underscoring the seriousness of the undertaking, ASX recently produced an 87-page progress report. Roll-out is targeted for late 2020 or early 2021.
In the weeds.
The enormity of such a project may not be obvious to those unfamiliar with the creaky plumbing of the capital markets.
At the completion of phase one, DTCC will have nodes set up internally for every firm that it knows will run one, plus some general nodes that will take care of supporting the transactions and processing for the firms that do not wish to support a node of their own.
For this project, DTCC has taken a multi-vendor approach. Ethereum-inspired startup Axoni is providing the technology, with IBM helping to manage the project, and R3 providing best practice guidance on areas like selecting the right data models.
Luxembourg is the largest fund management hub outside of the U.S. The jurisdiction holds many trillions of dollars worth of assets under management.
The KPMG-led project includes banks like BNP Paribas, Credit Agricole and others, as well as over 400 asset managers. The technology used is ethereum-based Quorum, the popular open-source project run by JP Morgan.