NYSE suspends trading on all issues because of ‘technical issues’ according to Bloomberg as of 11:32 AM EDT.All open orders have been cancelled.Other exchanges remain open, such as Nasdaq and BATS, and stocks continue to trade there. NYSE ARCA and options are still open for trading.There are eleven stock exchanges in the US.It is not yet known whether the stock […]
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Welcome to our new series — How did you get that job? — where we’ll run interviews with interesting people about their work and how they came to be doing it.When Brad Katsuyama came to the US in 2002 to run the trading desk for the Royal Bank of Canada, he thought he understood the game. If […]
As Nanex’s Eric Hunsader pointed out, while the well-paid HFT-lobbyists proclaim their rigging clients “knit together liquidity from all markets,” it appears BATS’ new CEO (since the lying old one left) disagrees. The exchange that caters significantly to the front-running HFTs believes it knows how to improve the market for thinly traded stocks… it will stop handling them.As Bloomberg reports,
BATS […]
(Reuters) – U.S. stocks rose on Friday, pushing the Nasdaq to a 15-year high and helping the S&P 500 snap a three-week string of losses, following a pullback in the dollar, upbeat results from Nike and further biotech gains.Recent sharp gains in the U.S. dollar .DXY have increased worries about the currency’s impact on the earnings of U.S. multinationals. S&P […]
Michael Lewis’ new book Flash Boys comes out today. It’s all about the confusing world of high-frequency, algorithmic trading.He was on 60 Minutes last night talking about the subject and promoting his book.In this short segment, he argues that the stock market is rigged.The first 45 seconds are the key part, wherein he explains the mechanism by which high-frequency traders […]
