Billions of dollars are being invested to make trading without humans faster, cheaper, smarter. The problem is that no matter how smart you make machines, they will never be smart enough in our lifetime to detect all levels of deceit and fraud. Particularly online.
The new Rich List is out -- yet another example of financial pornography. While nearly 15 million Americans still can't find jobs due to the Wall Street-created crash, the top hedge manager, David Tepper, earned $1,057,692 an HOUR in 2012.
The trading risks of HFT may decimate the HFT operation and at the same time greatly affect other market participants. Particularly, in selected markets, unchecked HFT may quickly incur considerable losses, well in excess of any tolerable limits.
As it did before the financial crisis, Wall Street is bankrolling academics to bolster its case against regulation. Then, the research gave warm tongu...
It's not a secret that many pension fund, mutual fund and hedge fund managers are concerned about high-frequency traders (HFTs). While their concerns are many, perhaps the biggest uncertainty involves the actual extent of HFT participation in the markets, their identities and their intent.
More than two years since the "flash crash" sent investors fleeing the stock market and nearly a year since the Facebook IPO imploded, the Securities ...
Ever since the so-called Flash Crash nearly three years ago, when stock markets plunged almost nine percent for mysterious reasons, American regulator...
From the boiler room-basement brokerages of southern New Jersey to the opulent office suites of midtown Manhattan hedge funds, the U.S. financial poli...
The dismissal of an investigation into major media companies suspected of giving clients a sneak peek at crucial data drew great surprise on Wall Stre...
The frustration of those of us arguing for pragmatic reforms and unbiased research should be evident. I am thankful that here in the United States, the SEC has at least begun to realize the need for more independence in its research and panels, and I hope that trend continues.
Stock markets are supposed to be efficient. Rational actors continually process data in a methodical way and spit out the appropriate price. But today...
Finally, the SEC has begun to take some action. It's made a lot of progress in just a month, but a lot more needs to be done, as a series of reports written by David Weild for the accounting firm of Grant Thornton makes clear.
WASHINGTON -- For the second election in a row, a Long Island-based hedge fund manager is trying to defeat a liberal Oregon congressman by pumping mon...
Opinions on high-frequency trading run the gamut. On one hand we find individuals who fear that HF traders are nothing more than "hackers" seeking to game the markets. But the extent of their hiring implies that the industry is enormously profitable and here to stay.
The man who built what was possibly the first stock-trading robot now worries they have too much sway over the market. In other news, Victor Frankenst...
Other countries are using financial speculation taxes successfully; it's time we do too. The United States is in desperate need of a permanently robust and resilient economy. A financial speculation tax can help get us there.
The markets don't belong only to people like Mr. Joyce; they should and must belong as well to individual investors. Congress and the regulators must recognize that action is long overdue.
They want to think that machines are biddable and programs run smoothly. But with traders and market makers creating and deploying new systems and algorithms constantly, the danger of something going wrong is inevitable.