elecengin

7 ms·

1.
by elecengin 8y ago
Except its more like you can choose if you wanted a fraction of a percent added to the price or if you wanted to pay a $5 delivery fee. The answer varies for small and large orders (and even by share price) For most retail investors that us
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by elecengin 9y ago
Then probably something like IB is your best bet. Do you have margin requirements? Apologies if you already considered this, but make sure you consider execution costs. Depending on your type of strategy and selection of stocks, it may be a
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Ray Dalio Says He's Ready to Give Away Bridgewater's Management Software(bloomberg.com)
2 points by elecengin 9y ago|0 comments
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by elecengin 9y ago
Matt Levine has a great (humorous) overview of the First Bitcoin Corp shenanigans (scroll to the second section): https://www.bloomberg.com/view/articles/2017-08-25/insider-t...
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by elecengin 10y ago
Many coffee shops in downtown NYC have the code/key situation. There are similar regulations in NYC (and I think most of the US, although it is at a local level) that mandate customer bathrooms although they do not sound as strict. For
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by elecengin 10y ago
I think that is actually the point of the article. Detroit managed to open up their market to a wider set of sellers through a combination of regulation (the Cottage Food Law cutting down regulation for small processors of relatively safe f
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by elecengin 10y ago
How do you do pseudo classes like :focus?
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by elecengin 10y ago
The CAT on HN! I went to one of the early meetings for this project (years ago now!) It was a question and answer session for potential bidders. My favorite question: "How long is the contract for?" (the SEC reps look to each othe
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by elecengin 10y ago
I dont think so... Maybe you were funneled into the free trial? I also use it with my students and it is free...
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by elecengin 10y ago
I would say the catch is that all of the messaging queues are unbounded.
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by elecengin 10y ago
An interesting tidbit embedded in the news is that $22mm in loans was sold to a single investor - the model they talk about on the website is peer to peer, but this appears more peer-to-institutional-buyer (which I always kind of suspected,
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by elecengin 10y ago
Interesting - I was suspicious that this "Quick Chip" process they refer is less secure, but apparently it is just a matter of poor implementations requiring the card for the entire authorization process: "According to Ericks
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by elecengin 10y ago
I've been to NY4! It really is less magical then these articles make it seem. Yes - the security is a bit imposing. For anyone familiar with datacenters, though, it is pretty run of the mill except for it's tremendous scale. Worth
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by elecengin 11y ago
A bit disingenuous - the handful against include major exchanges like NYSE and BATS as well as major trading firms like Citadel. You could argue that these are direct competitors of IEX and therefore have a vested interest in preventing the
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by elecengin 11y ago
The trading tax has been hanging over the heads of traders for a long time now. I almost wish they would just create a proper experiment to test it and then repeal it after it inevitably fails (see Sweden for a prime example). The SEC seems
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by elecengin 11y ago
The end of this article hints at the real macro trend here: the NYSE floor is a glorified TV stage. Compare NYSE to NASDAQ. First - a quick explanation of what these market makers do. Every security is primarily listed on a single exchange.
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by elecengin 11y ago
I would suggest reading both at the same time. The rebuttal is organized to follow along with the format of the book just for this purpose.
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by elecengin 11y ago
This isn't bad: http://www.wsj.com/articles/what-the-big-short-movie-gets-ri... While Big Short doesn't seem as factually challenged as Flash Boys, it is over-simplified. Either Michael Lewis falls short of h
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by elecengin 11y ago
I have found the exact opposite with Flash Boys (and, to a certain extent, with Big Short - although that is less my area of expertise) If you have read Flash Boys and you are interested in the other side of the story I suggest reading a ve
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by elecengin 11y ago
I think it's important to recognize that all this happened on the fringes of JPM - this appears to be some private wealth branch office. Small brokerage outposts like this are generally rife with issues - they have less supervision (fr
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by elecengin 11y ago
"We don't own your data - Your emails never leave your phone."
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by elecengin 11y ago
This fits with the general trend in trading in fixed income markets versus equities markets. Due to to the lower amount of liquidity (inventory available for someone who wants to buy/sell), fixed income (bond) markets tended to be trad
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by elecengin 11y ago
https://www.nyse.com/publicdocs/nyse/markets/liquidity-progr... http://cdn.batstrading.com/resources/release_notes/2012/BATS...
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by elecengin 11y ago
Agreed. Matt Levine is one of the few commentators that fully understands market microstructure. The Bloomberg View linked in a different comment (by John Arnold) is horrible with terminology, though.
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by elecengin 11y ago
I can't believe the article in the comment above made it on to Bloomberg View. It uses a completely incorrect definition of front-running - claiming it is a "loose" term. It isn't. Front running is illegal. It requires a
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by elecengin 11y ago
Good question. HFT is a spectrum. At the lowest latency (approximately 5 microseconds), the barriers to entry are massive - multi-million dollar startup costs. For "kind of fast" - 10-100 microseconds - there are a variety of brok
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by elecengin 11y ago
> Fragmented exchanges are better for everyone except for high frequency traders. Then they actually have to do low latency arbitration to make money instead of full on front running like they do now. This is a very strong statement with
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by elecengin 11y ago
Completely agree - in the single exchange markets you see a lot of monopolistic behavior with the operators. In this current, though, we have three major operators with 2-3 exchanges each - many with single digit percentages of market share
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by elecengin 11y ago
This article brings up something that HF traders have been bemoaning for a long time: the fragmented US market structure. In US equities, you need to monitor almost a dozen exchanges to be competitive. The popular book "Flash Boys&quot
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by elecengin 11y ago
A lot of the comments are very harsh. I think the underlying message is getting lost: Sometimes when you know something is wrong, it is easy to focus on all of the prerequisites and peripheral problems and never solve the big problem. This

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