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SEC Associate Director King To Join High-Frequency Trader And "Supplementary Liquidity Provider" GETCO
Now that is has achieved complete regulatory capture, and the SEC has been purchased for 30 pieces of silver, Sky-Net is on the verge of sentience. Going forward nobody except the HFT computers will be trading with each other. The computerized market has now made a complete mockery of regulation, and it cost it about 1 day worth of frontrunning based profits. We fully expect the SEC to find "absolutely nothing wrong" with market structure when it concludes its probe into HFT manipulation. In all seriousness, just what is Getco so worried about if it needs to conduct such a blatant example of "regulatory capture"? This is about as subtle as it gets. The HFTs must be really sweating whatever it is that is coming down the road.
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I'm suddenly in the mood of "lets lynch the limey git cunt".
i dont have a problem with computers running the markets, i have a problem with people pretending they do and getting paid for it.
UFB
all systems a complete f***ing joke
There should be some prohibition period of when a regulator can work for someone whom he was in charge of regulating.......if not I hope the perions that takes his place clamps down on the bastards.
Let the timeline collapse
If you understand ratio analysis this cannot be ignored as a big clue in identifying the source of the crash.
http://www.minyanville.com/businessmarkets/articles/apple-flash-crash-na...
Disturbing. As always.
At least foreshadowing of sparring to commence, for heretofore we were seemingly not approaching such.
Gotta love the self-congratulatory moniker;
"Supplementary Liquidity Provider"
Like a Congressperson introducing them self as an "Honorable, Trusted, Public Servant". Which mine does. Really.
This happens all the time at the SEC. What's remarkable is that the House and Senate are about to establish a system that leads to MORE of this revolving door BS. Every time Congress and the WH create these thousand plus page landmark bills, they allow lobbyists to flourish.
Banks will have to bolster their compliance staffs with more former SEC and CFTC officials. The same idiot House and Senate staffers who have been generating all this crap will actually use their involvement in this piece of #$%* as a means to get high paid lobby jobs.
Dodd/Frank is a joke and before anyone can figure out what its intended and unintended consequences will mean, some other global crisis will hit making the entire package seem outdated.
Sadly though the SEC will come to the Hill and again tell Congress that all they need is more money , more staff and more regulation.
This happens in every fucking sector. Food, health, drug, finance, energy, ect.. Why do you think they always pass regulation that is in fact deregulation. Watered down legislation with even more watered down clauses inside the bill. Revolving door is still working very well.
Dammit! Pr0n subscriptions aren't cheap!
HFT firms specifically say they are reading the trades and frontrunning using telecom strategies. Has nothing to do with anything except the speed of light. They have captured the system while others do not know it yet. Question is how much of US money is in those HFT funds vs international money, and how much of a US vs International money is battling. Only new hires in HFT are telecom people.
And....
What was the "net pay increase" ?
The revolving door from government supervision to the corporate side does not serve a useful public purpose.
These job transitors simply help the corporate firm game the government supervised system.
...................
The real task at hand should be defragmentation of all the exchanges
in combination with the complete elimination of otc derivatives.
The only thing that is keeping this from happening is cronied corporate interests that
like the easy money....ie GS and others not having a single losing
trading day for long time intervals...which has to be either some form of electronic front running or inside information.
The remedies are simple...however the "captured system" will not
allow their implementation.
The national scene is adopting the revolving door employment model between casinos and state regulators in Las Vegas. Been going on for decades. That's gubmint bidness.
Total Institutionalized Corruption.
The sheer ubiquity of "high frequency looting" in everything the government touches and pretends to "regulate" is a clear sign that the system is in its death-throes.
As I posted before, Obambi is trashing the entire market system in order to install GETCO, which is based in - gasp - Chicago, and owned by whom?
Homeschool 2015. What's a stock market mommy?
Hint: Maurice Strong
Folks look at the charts of
Duluth Minerals
Franconia Minerals
Polymet Minerals
All exploring in the Duluth minerla camp in Minnesota and all on the TSX in Toronto
I watched this and today specifically where a normal 200K share day turnedinto a bloodbath of 13 million traded in seconds as two of them flash crashed and stops blown out. Tyler I'm not sure who to send it to but clearly this is manipulation unlike anything we have seen before.