"We risk becoming the best informed society that has ever died of ignorance"
- Rubén Blades

"You can't make up anything anymore. The world itself is a satire. All you're doing is recording it"
- Art Buchwald

"It's getting exciting now, two and one-half. Think of everything we've accomplished, man. Out these windows, we will view the collapse of financial history. One step closer to economic equilibrium"
- Tyler Durden

"It is your corrupt we claim. It is your evil that will be sought by us. With every breath, we shall hunt them down."
- Boondock Saints

Monday, December 5, 2011

Some Progress On The HFT Front

Read More On This Chart At The NANEX Website

Finance Watch Secretary General Thierry Philiponnat told the parliament’s ECON Committee today that "With the exception of market-making related activities and, possibly, arbitrage of price differences between different trading venues, all the other high frequency trading strategies have the mechanical effect of going against genuine investors’ ability to execute transactions at the best possible price for them".  Bravo.  Someone else has clearly stated the issue and is willing to prove further solutions.  He went on to say "the net price of transactions to investors has not fallen, because the fragmentation of equity trading venues has led to higher transaction prices that have not been compensated by lower transaction costs".  3 page coverage below.

MiFID Review