Meet The People Behind The Vacuum Tubes In The World's Largest HFT Shop

Tyler Durden's picture




 

A rare glimpse inside "probably the world's biggest" 'market-maker' GETCO as it provides estimates of over 20% of 'liquidity' to the daly trading volume on US stocks. Meet the people that stand ready to feed the machines (oh wait) that stand ready at all times (except when most needed) to bid or ask...

 

The New York GES Trading Floor

The newly built trading floor that houses the GES Team is a few months old and just a five-minute walk from the New York Stock Exchange. A team of 19 to 25 traders and service providers work on this floor – depending on projects that require travel. The trading floor has several open positions for growth and sports a video conferencing system called Always On so that employees can see their counterparts in the GetCo London and Chicago offices.

 

Global Head of client services...

 

M.D. and Head of Sales... pavlovian bell-ringer?

"It’s a 30,000-foot view of the sales side. These guys watch other systems and look at order types. That means that they have a lot of alerts in their sights," he says. "If a call goes down, it rings a bell; if a customer is out, it rings a bell. If something crazy happens to a destination we route to it rings a bell." Once the bell rings, does this mean Drew and his team spring into action? It depends, he says. "The team is so small and that means that everyone lends a hand. If these two guys are certifying a trade with someone, the phone rings and we can jump on it," he says.

 

Senior Accounting Analyst.. part Borg "I live in Excel"?

 

But its not just stocks - here is the Fixed Income Sales Director

"Part of my job is not only being able to integrate with the end user from a technology perspective but also to be able to understand our flow and make sure it is respectable and customizable for the end user,"

 

Offense! The Coder...

 

Defense! Corporate Relations...

 

GETCO on the NYSE Trading Floor

With more than 850 listed companies in its roster, GETCO is the second largest Designated Market Maker (DMM) on the floor of the New York Stock Exchange. There are 21 locations or stations inside the GETCO booth, where 21 DMMs monitor the stock prices of the companies represented by GETCO.

 

The DMMs hard at work...

 

and behind the scenes...

 

Source: Advanced Trading

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Wed, 10/10/2012 - 09:05 | 2874481 SeverinSlade
SeverinSlade's picture

Destroying all confidence in the financial markets with the click of a mouse at a PC terminal.

Wed, 10/10/2012 - 09:06 | 2874485 GetZeeGold
GetZeeGold's picture

 

 

Smoked in 0.000002 seconds.

 

Wed, 10/10/2012 - 09:16 | 2874514 Thomas
Thomas's picture

Nice touch--faces of pleasant humans to make it all seem so normal.

Wed, 10/10/2012 - 09:20 | 2874525 GetZeeGold
GetZeeGold's picture

 

 

Half of them actually do function.....believe it or not.

 

Wed, 10/10/2012 - 09:27 | 2874543 fightthepower
fightthepower's picture

Good to put a face with the name. 

Wed, 10/10/2012 - 09:35 | 2874561 Manthong
Manthong's picture

Hmm..

So how effective and productive are these smiling units of the collective if you sever their link to the mother ship?

Wed, 10/10/2012 - 09:46 | 2874581 francis_sawyer
francis_sawyer's picture

For the record... I'm the guy BEHIND the guy behind the vacuum tubes...

~~~

http://www.youtube.com/watch?v=STjkQk7zedw

Wed, 10/10/2012 - 10:53 | 2874769 franzpick
franzpick's picture

Careful, nature abhors a vacuum tube.

Wed, 10/10/2012 - 11:09 | 2874847 Thomas
Thomas's picture

Check their necks for pods.

 

True story: I dreamed I was a pod person. (I have a sleep disorder; dreams can be special.) I wake up and for an ever so brief moment I find myself thinking, "I don't have to go to work cause I am a pod person." Related: My wife, while sleeping, opens her eyes the other night and says, "I wasn't talking in my sleep until I opened my mouth" and then closed her eyes. Message: Stop fluoridation of the water!

Wed, 10/10/2012 - 09:38 | 2874569 TheFourthStooge-ing
TheFourthStooge-ing's picture

.

Good to put a face with the name.

They have bright futures as lamp post adornments.

Wed, 10/10/2012 - 10:40 | 2874733 ChacoFunFact
ChacoFunFact's picture

they didn't build that

Wed, 10/10/2012 - 09:31 | 2874552 Sir Edge
Sir Edge's picture

Your Account Will Be Assimilated...

Wed, 10/10/2012 - 09:34 | 2874558 GetZeeGold
GetZeeGold's picture

 

 

Crap.....it's Jon!

 

Wed, 10/10/2012 - 09:44 | 2874584 ptoemmes
ptoemmes's picture

I didn't see anyone move - could be wax dummies.

Wed, 10/10/2012 - 11:42 | 2875004 earleflorida
earleflorida's picture

so... they must keep the pleasure models in the Utilitity vRooom--with all those smiley faces    http://www.southparkstudios.com/clips/154416/pleasure-model

Wed, 10/10/2012 - 12:13 | 2875120 YungHungAndLegal
YungHungAndLegal's picture

Fixed income sales director...i'd like to integrate her end...

Wed, 10/10/2012 - 12:23 | 2875159 ATM
ATM's picture

I'd much prefer the naughty Senior Accounting Anal-yst

Thu, 10/11/2012 - 04:04 | 2877135 Moonrajah
Moonrajah's picture

I'd be careful about that anal yeast, if I were you, man.

Wed, 10/10/2012 - 09:18 | 2874519 Dr. No
Dr. No's picture

Its all engineered to take peoples money.  Which is fine.  Except the big loosers cry to their congressman to get bailed out we end up paying.

 

"That HFT Terminal is out there.  It can't be bargained with, it can't be reasoned with.  It doesn't feel pity or remorse or fear and it absolutely will not stop, ever, until you are broke."

Wed, 10/10/2012 - 13:14 | 2875368 mtomato2
mtomato2's picture

Excellent quote grab...

 

I'll be back.

Wed, 10/10/2012 - 09:20 | 2874524 lunar
lunar's picture

High-Frequency Trade Drones

Wed, 10/10/2012 - 10:34 | 2874712 Carl Spackler
Carl Spackler's picture

True.

I got a kick out of the pictures and Tyler's captions, especially "Offense" and "Defense"...GENIUS !

Wed, 10/10/2012 - 09:21 | 2874529 slaughterer
slaughterer's picture

OT: ZH: please cover the drop of several PIMCO closed end funds to their NAV. They got and will be getting "TVIXed" quite massively.  

Wed, 10/10/2012 - 09:27 | 2874541 resurger
resurger's picture

i got a call from a trading firm to buy "Carbon Credit" and its trading on some Commodity Trading Exchange!

reminds me of John Paulson GS ABX!

 

Wed, 10/10/2012 - 09:06 | 2874483 Cunnial
Cunnial's picture

FUCK HFT! FUCK THE BORGS!

Wed, 10/10/2012 - 09:25 | 2874534 CvlDobd
CvlDobd's picture

Resistance is futile!

Wed, 10/10/2012 - 09:06 | 2874484 fuu
fuu's picture

I see fat people, they must be poor.

Wed, 10/10/2012 - 09:08 | 2874490 GetZeeGold
GetZeeGold's picture

 

 

If you po......they'll give you food stamps.

Wed, 10/10/2012 - 09:12 | 2874500 Beam Me Up Scotty
Beam Me Up Scotty's picture

Don't forget the OBAMAFON

Wed, 10/10/2012 - 09:14 | 2874507 GetZeeGold
GetZeeGold's picture

 

 

I'm hooked up.....give me a call.

 

Wed, 10/10/2012 - 11:50 | 2875039 Common_Cents22
Common_Cents22's picture

obama to obamafonidiots:  call me in nov, maybe.

Wed, 10/10/2012 - 09:06 | 2874486 Neethgie
Neethgie's picture

They have killed their own market, by stealing from people volumes have become anemic, pretty sure people will want to trade none bs markets in future.

Wed, 10/10/2012 - 09:07 | 2874487 SGS
SGS's picture

Can we get this crash overwith already so I can go bang my wife?

Wed, 10/10/2012 - 09:08 | 2874493 JPM Hater001
JPM Hater001's picture

So your wife is free right now?

gotta go...

Wed, 10/10/2012 - 09:13 | 2874502 GetZeeGold
GetZeeGold's picture

 

 

Know when to walk away.....and know when to run.

 

Wed, 10/10/2012 - 09:19 | 2874521 Alpo for Granny
Alpo for Granny's picture

Hey I was here first!

Wed, 10/10/2012 - 10:55 | 2874775 unrulian
unrulian's picture

who bangs their wife?...that's gross

Wed, 10/10/2012 - 09:07 | 2874488 JPM Hater001
JPM Hater001's picture

Someday we will see an article about the guy who wrote the program that then created the algo...

Oh wait...

Wed, 10/10/2012 - 09:16 | 2874512 Cunnial
Cunnial's picture

Didn't you mean: Someday we will see an article about the algo who wrote the program that created the guy?

Wed, 10/10/2012 - 09:39 | 2874497 LawsofPhysics
LawsofPhysics's picture

And precisely what product of real value to society are these schmucks providing again?  Well, I can see that at least two of them will easily find work in the red light district when the system consumes itself.  Don't be hate the players sheeple, get off your ass and change the game.

Wed, 10/10/2012 - 09:39 | 2874571 icanhasbailout
icanhasbailout's picture

at least one of them will be working the brown paper bag district

Wed, 10/10/2012 - 09:40 | 2874572 Lebensphilosoph
Lebensphilosoph's picture

One anyway ...

Wed, 10/10/2012 - 09:41 | 2874575 Lebensphilosoph
Lebensphilosoph's picture

4 HFT zombies downvoted this.

Wed, 10/10/2012 - 09:43 | 2874577 GetZeeGold
GetZeeGold's picture

 

 

Not yet.....not sure what the problem is....

Wed, 10/10/2012 - 11:54 | 2875053 Common_Cents22
Common_Cents22's picture

LIQUIDITY of course!!!   Like a boxer who can punch 10x a second taking on a boxer who can punch 1x a second.   The faster boxer is just providing 10x liquidity, never letting you get a shot in while he pummels your face.     the flaw in this is that a box probably earned the right to punch 10x by training, but HFT is just plain structured stealing.

How hard would it be to put in latency/trading speed curbs?   Kind of like Nascar trying to keep all the car specs equal so they race on somewhat even terms.

Wed, 10/10/2012 - 09:11 | 2874499 Winston Churchill
Winston Churchill's picture

Asimov's three laws of robotics totally ignored.

Wed, 10/10/2012 - 09:12 | 2874501 kill switch
kill switch's picture

Gotta love the asshole with the polo shirt!!!! What a heart warming train of photos...Doing GOD'S work....

Wed, 10/10/2012 - 09:14 | 2874506 Dr. No
Dr. No's picture

"It was shattered [the cpu]... didn't work. But it gave us ideas, It took us in new directions... things we would never have thought of. All this work is based on it."

Wed, 10/10/2012 - 09:16 | 2874513 sabra1
Wed, 10/10/2012 - 10:23 | 2874674 tip e. canoe
tip e. canoe's picture

from the video summary:

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maybe i'm bit too critical, but the Alex Pack doesn't look like it's working too well on Alex.

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