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blog.themistrading.com
Company blog · blog.themistrading.comeconomicsbusinessdata
blog.themistrading.com is the company blog at blog.themistrading.com, writing about economics, business and data. Since 2011, 13 different Hacker News readers have linked it 14 times, most often “1215095 – The Flash Boys Mystery Solved?”. No feed was found, so read it on the site itself.
Too few sampled comments (8) to say how often HN recommends it.?
Why HN links it
HN commenters link this trading blog's posts on high-frequency trading, exchange and market-maker practices, and critiques of Michael Lewis's book and Craig Pirrong, usually as sources for their own points.
Summarised by Claude from a sample of 8 HN comments that link here. Each comment is marked recommending, critical or neutral (citing without judging); how this works.
Most-linked posts?
- 1215095 – The Flash Boys Mystery Solved?2 people · 2 mentions · first linked 2014-04-17
What Hacker News says?
>There is nothing malicious or underhanded going on. And yet most market participants think banning them is a no-brainer. http://blog.themistrading.com/when-exchanges-attack/
Comment linking /when-exchanges-attack/
on “A High Frequency Trader's Apology, Pt 2”Submitted 1215095 – The Flash Boys Mystery Solved? as a story · 31 points
HN discussionI would disagree that this would be considered jumping on the populous band wagon, if you've read the article, you'll see that Schwab originally released an Op-Ed in the summer of 2103 echoing similar concerns. He took a public stance on HFT a full year before the book was released. Taken directly from the release you linked-> As we noted in an opinion piece in the Wall Street Journal last summer. http://blog.themis…
Comment linking /talk-to-chuck-about-hft/
on “Michael Lewis: shilling for the buyside?”Submitted 1215095 – The Flash Boys Mystery Solved as a story · 7 points
HN discussionThere are a couple of very interesting articles on GPS spoofing. Not only is it doable [0] but there are some interesting cases that most people don't really think about. Consider that GPS is often used as a timing signal by various financial entities (including stock exchanges). If you override the legitimate GPS signal (not a lot of power required as you'll be much closer to the receiver) and introduce a small dev…
Comment linking /2012/07/could-gps-spoofing-cause-another-flash-crash/
on “Hackers can fake radio signals to 'hijack' aircraft landing systems”Submitted Seven Years of Order Information Leakage as a story · 2 points
HN discussionhttp://blog.themistrading.com/wp-content/uploads/2009/01/tox... describes a predatory algorithm deliberately making inconsequential trades solely to discover a buyer's limit, then selling short at that limit only to cover after the dip they themselves caused. This is basically scalping, a strategy designed to steal the surplus value from both the buyer and seller. Such abuses were even more egregious back when most…
Comment linking /wp-content/uploads/2009/01/toxic-equity-trading-on-wall-street-final.pdf
on “Friends don't let friends get into finance”Submitted 2018 Market Structure Predictions as a story · 1 points
HN discussionA book written by a group of high-frequency trading firms, defending high-frequency trading. Hmm... Is this blogger's summary of Kovac's book accurate ( http://blog.themistrading.com/2014/12/flash-war/ )? Seems like the book refutes the accusation of HFT front-running but: "Kovac then writes, “In other words, this research, cited by Lewis himself near the conclusion of his book, contradicts everything he has said ab…
Comment linking /2014/12/flash-war/
on “Plan for New Stock Exchange Stirs Debate”Submitted This Is Why Bitcoin Futures Should Not Be Approved as a story · 1 points
HN discussionThis has been happening since the beginning and is hardly anything new. However, I'm very pleased to see this getting more public attention even though not much will change especially given the lack of alternatives. But at least those interested can educate themselves on how this all works. http://blog.themistrading.com/wp-content/uploads/2015/03/Wha...
Comment linking /wp-content/uploads/2015/03/What-Every-Retail-Investor-Needs-to-Know.pdf
on “Robinhood Making Millions Selling Out Their Millennial Customers to HFTs”I am not saying the mechanics allow front-running. It is just different from a dark pool or exchange in that the wholesaler guarantees execution and has some discretion over how to provide it. It's not as if Schwab pings a bunch of internalizers to say "hey, can you fill this at the NBBO?" and then routes out themselves if nobody says yes. The wholesaler must fill the order whether they want it or not, and can eithe…
Comment linking /2010/10/the-internalizers-and-the-flash-crash-let%E2%80%99s-talk-real-villains/
on “U.S. investigates market-making operations of Citadel, KCG”I tuned out of this article as soon as I saw the name "Craig Pirrong." I've heard about him before in the financial sector - kind of a scummy, academic-for-hire. The kind of guy who gets really mad when you ask him about his paid consulting positions and whether it might affect his objectivity. http://blog.themistrading.com/the-best-research-money-can-bu... http://blog.themistrading.com/the-profane-professor-who-lov…
Comment linking /the-profane-professor-who-loves-the-hft/
on “Elon Musk: Visionary or Rent-Seeker?”
