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Here Comes Johnny 5: HFT's Favorite Exchange BATS To Acquire FX Trading Platform
It has been a big day for FX news: with countless retail brokers kicking the can after getting crushed by the Swiss National Bank, and junk bond underwriter Jefferies set to buy FXCM, here is the latest shocking announcement from the shopping block. Because just when you thought the absolutely epic momentum ignition and spoofing in the USDJPY couldn't get any worse, as well as bid ask spreads approaching several pips, it is about to get a whole lote worse.
Reuters just reported that none other than the HFT's bestest buddy exchange, BATS, which earlier this week was slapped with the biggest monetary penalty ever for continuing the practice of Hide Not Slide (at least until UBS' dark pool was slapped with an even bigger fine for conducting subpennying without informing most of its clients), is about to buy the FX trading platform of KCG, formerly Knight Capital which too blew up after one of its algos went haywire and blew up the firm in milliseconds.
- BATS GLOBAL MARKETS IN TALKS TO BUY FX TRADING PLATFORM HOTSPOT FROM KCG HOLDINGS KCG.N FOR NEARLY $400 MLN - SOURCES KCG.N - RTRS
Which, of course, is great news for all those who have stepped back from the rigged circus and merely enjoy "markets" for the comedic farce they have become. Because when the USDJPY suddenly trades from 115 to 0.0001 in 1 millisecond just because some frontrunning BATS algo went haywire, and causes the Bank of Japan to be margin called out of existnece, anyone who isn't laughing yet, will have no other choice.
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Now who is going to save BATS?
Well, DING of course!
BATSHITCRAZY
I find guillotines and gallows to be of great comedic value.
Johnny on the spot!
Can't wait for BATS IPO part 2.
These stupid humans should have never trusted the machines. Malfunction voids all plays.
Yo, the Johnny 5 pic has me laughing.
But wouldn't HAL be more appropiuate?
This shit is hilarious, it is a circus, show clowns and all.
150000 HFT algos and 3547680561950853487563408954353597868712401:1 leveraged brokers all stuffed into the same exchange? Sounds awesome! Want a piece of that action? I'm sure you do! Simply double click the 'Make the Monies!' icon on your desktop, snort a line or two, then fuck off out for a quick champagne breakfast, maybe drop in for a chat with your local Maserati dealership on the way back to your 300000 sqft mahogany and tiger scrotum lined office on the 94586th floor. Oh, and don't forget to email your pal at your local Central Rothsbanken for the inside skinny after lunch, and if you have time, maybe even squeeze in a quick wank to some hacked nude selfies of a teen popstar someone just linked you through your terminal chat before heading home to screw someone who isn't your wife.
Welcome to the world modern finance, it's busy but rewarding!
+10000 if I could.. LOL!! It's almost perfect just toss in a short stint of midget tossing..
I don't get it, what is so funny?
That sounds like a hard day of doing god's work.
Certainly nothing to LOL about.
Haha! I needed that laugh after the day I had. No kidding, probably the best ZH comment i've ever seen.
Everything is so easy when you are living life at 10 quadrillion miles an hour!
Johnny 5 is ALIVE