"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

Tuesday, January 31, 2012

$3 to $200,000. $199,997 Is The New Tight Spread Benchmark

Updated at 10:58:00 to include information regarding cancellation of trades in SGS

No comment, just dropping jaws.  Guy Debelle is the Assistant Governor (Financial Markets) at the Reserve Bank of Australia and he said HFT provide tight spreads (see here) or perhaps the UK Treasury was right saying HFT has no direct affect on price movements (see here).  Tell us what you think, are regulators really accurate under all that fluff talk and misinformed data points?  A resounding "NO!" reverberates through the crowd....we'll wait to find out whether the program was executed through Pelosi's office.  We know it wasn't Igors Nagaicevs.

Reminder, white dots are trades (at @200,000.00).  Good luck human. (data provided by Nanex)

Orange Dots are cancelled trades (data provided by Nanex):
(h/t @BadAlgo)

5 Minute SGS Chart from Think Or Swim (200 means $200,000.00)

ThomsonOne caught the trades:

and ThomsonOne tick chart:

And since we're having so much fun, here is some SPY front running on the Consumer Confidence 10:00 AM release (h/t @HFTAlert)

Read more from Nanex (here) on the "front-running" of the Consumer Confidence number.  This is the SPY 10 AM Consumer Confidence chart.