Goldman sachs options trading glitch - Goldman to Pay $7 Million Over Options Glitch - WSJ
Computer programmers have taken their crown thanks to the code they churn out, which is able to execute trades thousands of times faster than any human. This new world is described by bestselling author Michael Lewis in Flash Boys: Barclays' alleged dark pool fraud.
FBI probe into flash trading. NY attorney general files lawsuit against Barclays. And, says Lewis, they are willing to go to extraordinary lengths to gain glith speed advantage - including laying the shortest, and therefore straightest, possible fibre-optic cable between the Chicago exchange the New York exchange based in New Goldman sachs options trading glitch, a distance of miles.
It needed to connect a data centre on the South Side of Chicago to a stock exchange in northern New Jersey. Above all, apparently, it had to be secret," Mr Lewis said.
Its sole purpose, as far as they could see, was to be as straight as possible, even if that meant they had to rocksaw through a mountain rather than take an obvious route around it. What was fast then was the fastest a human could go.
Now there was no man in the loop. No wonder that Spread Networks, the company building the fibre-optic connection, proudly boasted: But while they were taking advantage of the new technology, others were losing out. Goodman haves paid for nanoseconds; the have-nots had no idea a nanosecond had value.
Lewis relates how Katsuyama realised that he could not have been the first to discover how to forex time zone indicator mt4 advantage tradkng speed to look into the future, making it a riskless operation. However, unlike those who had gone before, Katsuyama was the rarest of breeds on Wall Street - a truly honest person, and one who was unwilling to perpetuate an unfair system just because it meant he could gain personally.
He left his job and multi-million-dollar salary to launch IEX, a new exchange that negated the goldman sachs options trading glitch advantages HFTs enjoyed and made all who traded otions it equal.
Auditor-general hits department once again with a qualified report, citing complete mismanagement of assets. Ramaphosa says the interventions from the jobs summit will inspire confidence and trust in the business community.
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Traading couple of publications have highlighted the extent to which the taps have been turned off on a source of foreign cash that SA had increasingly relied on over the past decade - foreign investment in the growing stock of bonds the government has issued on the domestic market. SA has more goldman sachs options trading glitch doubled its national debt since the financial crisis, mostly to finance rising current expenditure on public sector pay, and foreign bond market investors supplied a big chunk of the funding for this.
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Description:Yesterday the computer at Goldman Sachs responsible for trading options whose symbols start best trading glitch called sigma options bought prior to trade.