While Facebook dominated the news, Warren Buffett’s secretive investment banker slipped into a New York courthouse. That and more in today’s Wall Street roundup.
Falling out? NYSE Euronext approached Facebook yesterday about listing the company’s stock on the New York Stock Exchange, a move which would be a bigger blow to Nasdaq than any punishment regulators dole out for bungling the first day in Facebook trading.
A few months after The Observer examined the flight of software engineers from Wall Street firms, The Wall Street Journal has a follow-on article of sorts focusing on how high-frequency trading outfits are trying to refashion themselves to appeal to programmers.
One example of silicon-flecked culture making its way into the hard-nosed world Read More
The finance industry may feel like it’s under cyberattack with Wikileaks poised to drop incriminating documents about a major U.S. bank.
But now experts are saying that high frequency-trades are also highly susceptible to attacks by hackers.
By introducing microseconds of latency, hackers could skew prices and make millions of dollars in just a Read More
A former Goldman Sachs programmer who was arrested by the F.B.I. back in 2009 for allegedly copying code from the company’s high frequency trading software is now being tried before a jury in New York.
According to his LinkedIn profile, Serge Aleynikov “lead the development of a distributed real-time co-located high-frequency trading (HFT) platform” Read More
The May 6 flash crash rattled the stock markets, prompting investors to make large-scale withdrawals from mutual funds and other vehicles and creating the impression that exchanges are dominated by unpredictable, rapacious computer traders. In the months since then, more than a dozen individual stocks have experienced near-instantaneous spikes or dives. Each new bizarre event Read More
The flash crash of last May, where the DOW dropped 1,000 points in a few minutes, highlighted the increasing power of high frequency trading bots. On Friday a mini flash crash sliced the value of Plantronics, a $1.5 billion electronics firm, by nearly a quarter in less than one minute.
Analysis firm Nanex has Read More
On Wednesday, June 2, the S.E.C. is convening executives and academics at its Washington headquarters for a panel on high-frequency trading. The first two questions on the agenda: What it is and is it bad?
Rapid-fire computerized selling and buying is still so delightfully opaque that no one seems to know exactly how it works Read More
Twenty-four hours have passed since the Dow’s 1,000 point collapse, though it didn’t take a full day before diagnoses came in. “Europe is obviously the issue,” the Economist said right as stocks were tanking. A few hours later, Citi’s rivals were whispering about a “fat-finger” error at Citigroup, whereby someone, maybe in Chicago, Read More