2010 Flash Crash and HFT

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steven1976
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andyfuller wrote:If he is the only person to manipulate the markets then I am the Pope.

The whole thing seems very odd.
Surely if he had that much access to cash to create a move of that size then he would have invested in more than a semi detached.
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Euler
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Location: Bet Angel HQ

Living with parents as well I think?
andyfuller
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steven1976 wrote:Surely if he had that much access to cash to create a move of that size then he would have invested in more than a semi detached.
How much is Warren Buffett worth and he hardly lives in a stately home....talking of which - Peter I know how much you like Warren, fancy a holiday home? Though you can't pay in cash...

Want to be Warren Buffett's neighbor? Here's how much it'll cost you

https://homes.yahoo.com/blogs/spaces/wa ... 24841.html
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marksmeets302
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A judge decided today not to lower the bail for the guy that was arrested for having caused the flash crash. Bail was set at 5M pounds, and apparently he couldn't cough that up, so he asked the court to lower it.

If he really is unable to pay 5 million, they definitely have the wrong guy :lol:
LinusP
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marksmeets302 wrote:A judge decided today not to lower the bail for the guy that was arrested for having caused the flash crash. Bail was set at 5M pounds, and apparently he couldn't cough that up, so he asked the court to lower it.

If he really is unable to pay 5 million, they definitely have the wrong guy :lol:
They have frozen all of his funds haven't they? I think its absolutely disgraceful that this guy might be put in jail whereas banks are just fined for fx/libor manipulation and the traders get away with it...
marko236
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They have frozen all of his funds haven't they? I think its absolutely disgraceful that this guy might be put in jail whereas banks are just fined for fx/libor manipulation and the traders get away with it...[/quote]

Yeah your right they should freeze the banks when they do the same thing! then see how there bank customers think of them then :lol:
andyfuller
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Euler
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The court forced him to disclose the whereabouts of his money and was told he had funds of more than £30m, £25.5m of it in Swiss accounts.
andyfuller
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'Flash crash' trader extradition hearing to go ahead

http://www.bbc.co.uk/news/business-34086199
LinusP
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http://queue.acm.org/detail.cfm?id=2536492

Not sure if this has been posted but really good write up on the HFT, looking to change a few of my programs now.

(The bit on cancel rates is interesting as well)
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marksmeets302
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Planning on buying an arista switch are you Linus? :)

I've been part of this speed game for 12 years. Not a month went by that I didn't hear "we're too slow". We'd think of something, became quicker but then it would start all over again. I am soo happy I don't have to go through that anymore.
LinusP
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haha not yet :D

Marksmeets did you move from HFT to betfair?
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marksmeets302
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Betfair has been a hobby for me since 2008, and it still is. I used to make software for a liquidity provider/arbitrageur in ETFs. We occasionally have a debate if what we do is considered HFT. I guess not in the strictest sense, but we rely very much on speed and do hundreds of thousands trades a day. I've had some of the best moments there but also the worst. About a year ago I decided I liked it better when we were still with 15 people instead of now with something like 250 and left. I think I've been very lucky to have been at the right place at the right time.
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marksmeets302
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Bloomberg has a nice article on the flash crash guy: https://www.bloomberg.com/news/features ... e-vanished
Explosivo945
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The Michael Lewis book on this is a really good read as well, it's not strictly just about the flash crash but HFT in general: https://www.amazon.co.uk/dp/B00I9PVKKC/ ... TF8&btkr=1
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