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The End of High Speed Trading? - Probably Not

posted by janrinok on Wednesday April 02 2014, @02:07AM   Printer-friendly
from the there-is-money-to-be-made dept.

carguy writes:

Under the headline, "The Wolf Hunters of Wall Street", The New York Times Magazine is running this review of a new book. It tells a long story that ends in the creation of IEX (Investors Exchange), a new stock exchange with the intent of bypassing the unfair advantages that co-located high-speed traders currently have. After a few weeks of operation near the end of 2013, their volume was larger than AMEX(!!)

Here's a quote from near the end of the book review:

IEX had made its point: That to function properly, a financial market didn't need to be rigged in someone's favor. It didn't need payment for order flow and co-location and all sorts of unfair advantages possessed by a small handful of traders. All it needed was for investors to take responsibility for understanding it, and then to seize its controls.

"The backbone of the market," Brad Katsuyama (President & Chief Executive Officer, IEX) says, "is investors coming together to trade." While the article is long, I enjoyed the story. I have no connection to this company, but here's their website.

 
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  • (Score: 3, Funny) by edIII on Wednesday April 02 2014, @03:23AM

    by edIII (791) on Wednesday April 02 2014, @03:23AM (#24590)

    My kingdom for mod points...

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    Starting Score:    1  point
    Moderation   +1  
       Funny=1, Total=1
    Extra 'Funny' Modifier   0  
    Karma-Bonus Modifier   +1  
    Total Score:   3  

  • (Score: 2) by c0lo on Wednesday April 02 2014, @04:50AM

    by c0lo (156) Subscriber Badge on Wednesday April 02 2014, @04:50AM (#24620) Journal

    My kingdom for mod points...

    Not interested. A cheap republic on the other hand... if you have one, I might throw in some mod points for that.
    (grin)

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