"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, October 22, 2012

Old (As In Wise) Gangster's In The Micro-Structure Hustle

Nanex has been remarkable in the fight for clarity and for accurate data revolving around high speed trading.  The firm compresses direct feeds and passes them onto their clients to use as a base for their own software coding or as a means to monitor real market data without 3 servers, 5 computers, and their own power generator.  At a time when it nobility was thin in the early stages of the HFT fight, Hunsader and his team of Wizards stuck their necks out and published material that went against the prevailing sentiment.  With Themis Trading lighting fires under individual shoe's, Nanex was able to back up the claims of Joe and Sal using colorful and often in-you-face graphs to show the complexity and the detail of the US financial market micro-structure on the millisecond (ms) level.

Russia Today (RT) has produced a show called Capital Account which is hosted by Lauren Lyster.  RT has been doing a great job of undermining American media with their own, factual, no bullshit show.  Below you will find two clips, number one is Lauren's interview with Eric Hunsader and number two is her interview with David Greenberg.

The quote that has been repeated and marked as exemplary of HFT is attributed to Eric:
"Electronic trading brought down costs, HFT brought down ethics"
Eric Hunsader On HFT

David Greenberg On HFT

To go a step further, here is Haim Bodek of Scott Patterson's book "Dark Pools" popularity taking his first of many steps into the public to highlight the warped ethics and the negative ethos associated with high-speed trading.