- By passport sticking from the front shirt poket. That was a joke few years ago. Apparently that was a russian habit due to street searches by Moscow police. National ID card is not something new to them.
TFA failed to describe what that 'side-channel attach' is. But it was full of bitching about how tough is to measure latencies in network transmissions. Well, any competent network engineer knows that.
So what is author is going to cry about next? Tcp FIN_WAIT2 state?
The problem is not that speed is important -- the problem is that a small group of people/firms have an advantage over all other people participating in the market, because not everyone has equal ability to trade at high speeds. This allows them to engage in rent-seeking behavior that is detrimental to the market at large.
To paraphrase: the problem is that a small group of people who have these new fangled things called automobiles have an advantage over al other people on the streets because not everyone has equal ability to move at high speeds This allows them to engage in behavior that is detrimental to horse-driven carriages and pedestrians at large.
Question: are we better off in the past 100 years due to participation in the risk-taking behavior called "driving"?
When retail investor enters orders into his Schwab/Ameritrade/Interactive Brokers web portal, guess where those orders go? Yep, his broker colo facilities in Mahwah (NYSE), Carteret (NASDAQ) or Weehawken (ARCA/BATS). Main difference is that those orders get exercised by broker-owned systems and not customer's. Want your's gear in place? Power, cooling are not free as you probably know so be ready to pay up beyond $10/month account maintenance fee.
Anyway, you are missing the point. Investment in stock market does NOT require frequent executions. It is about buying when the stuff is cheap and then holding long time (like many years long) and then selling when you need money (not when it's expensive, that's speculation.) Speed is not important, valueing correctly to know when stuff is cheap is paramount.
I am involved in trading for living but did not touch my personal account in many-many months.
Given that cost to buy and maintain client workstations are very similar, 'thin client' setup means throwing money into maintaining VM servers to achieve worse workstation performance due to CPU and network contention.
Why would anyone bother cracking the crippled phone (ok, jailbraking, whatever) when there is a better, competitively priced ($400) and completely open alternative (N900)? T-mobile does charge lower monthly fee and does not lock you into 2 year contract if you bring your own device. So again, why do you want to waste your time with any of the G-stuff that also spies on your keystrokes?
On the contrary, should other venues honor LPR the damage would be much worse.
From page 70 of the SEC report: "we conclude that NYSE LRPs did not cause or create the broad-based liquidity crisis on May 6. Nonetheless, as stated above, market participants reported that the increasing number of LRPs being triggered on NYSE underscored the severity of market conditions as they were"
However, earlier on that page they also noted: "The data also do not suggest that significant liquidity was being attracted to the NYSE during the LRP." Which roughtly translates as "LPR are complete rubbish, do not work."
Overall, NYSE LPR only confused market participants, caused unnecessary panic and let to withdrawal of liquidity that might otherwise help to smooth out price variations.
2. According to SEC report, HFT traders played their intended role: smooth out short-term price volatility. However, due to enormous size of Waddell & Reed selloff (about $4 billion dollars in 75000 futures contracts during 20min.) they can do only that much. W&R just cut right through the order book on CME.
3. Slowing down the trading on NYSE did not help but rather hurt by locking up liquidity. Shitty NYSE Arca systems that handle ETFs overloaded and further exacerbated the problems.
4. At the end of day market returned to pre-crash levels. Long term investors were not hurt, W&R payed between 100 and 200 millions for their mistake.
There used to be a widely used Soviet slogan. Here is rough translation to English: 'everything for person, everything is in name of person". Notice the lack of articles, there are none in Russian. So the joke read as "Everything for person, everything is in name of person. AND I even know the name of THAT PERSON."
Of course, we never heard of "Animal Farm", not before l1991. Well, Fidel always was a good student of Russians.
Arguably, the overthrow of the socialist regime was the best thing that happened to Chile in recent history. Take a look how they do now comparing to their neighbors. Even recent economic crisis did not hurt them much.
Face it, most people are not that smart. US was founded a republic and not democracy for a reason.
I'm shocked, shocked. What happen to Chouchkhe movement? Weren't they supposed to use only pure communistic version of everything, including "interweb"?
The roadkill stats just highlight that 09/11 hurt America as much as a mosquito biting grizzly in the nose. Maybe made him angry and trashing a lot of stuff around without good reason. But that's about it. Lesson to mosquitoes - do not bite the bear if you do not want your habitat destroyed.
If you imply ~3K ppl lost on 09/11 that is nothing comparing to number of ppl dying every year in auto crashes (37261 in 2008, per NHTSA.) That is 10 767 every month. Each individual chances of dying in terrorist attach are infinitesimal to non-existent.
So I guess this is the part of "reload" which comrade Putin skipped to mention to Obama when they talked about "reloading" relationship b/w US and Russia?
Talking about "local economy", I have great idea how to really revive it. Why don't we all get a slingshot and a bunch of stones; then shoot out about 10 windows each? That's sure to provide great jobs for laid off construction workers. Maybe not so much that Space Shuttle, but it could be a start.
I would not be too surprised if MS stops pushing.NET in near future and instead pitches "new and improved" stuff. Totally incompatible with.NET, of course. I believe this is their way to keep windows developers busy re-learning new ways to do old tricks and too busy to look at MS competitors..NET is 10 years old now btw. Remember VB6, DDE, OLE and WIN32? Yea, I do.
Re:A Gnome user that wants to give this a try...
on
KDE 4.5 Released
·
· Score: 1
The guys have some skin in the game. From their website: Nanex is the creator and developer of NxCore, a streaming whole market datafeed. Their recommendations are moot too:
> 1. Quote and trade data must be time stamped by the exchanges at the time it is generated. This will ensure delays can be detected by everyone.
This data is already timestamped by all US exchanges. Data delays are mainly due to line delay and application delays that can be measured quite acccurately. Not many people do it properly though. Many does not look at it at all. For individual long-term investor (5+ years) it does not matter at all anyway.
>2. Quote-stuffing should be banned. Exchanges have already requirements for designated liquidity providers to quote at NBBO for X% of time (where generally > 90%). Presumably these providers receive some benefits for doing so (lower rates etc.) Do you think it is reasonable to force other people to buy and sell at a certain price? What if retail investor wants to sell his 100 IBM shares at $110 when market is $100?
> 3. Add a simple 50 millisecond quote expiration rule: a quote must remain active until it is executed or 50ms elapses.
Why exclude Alaska/Hawaiii? What if US citizen wants to trade from Baghdad Green zone and it takes 500ms to get signal there via sattelite link? Should we change thange the rules to accomodate that? Or should we allow people to compete by improving their systems?
While you are right about gas and resources as a weapon, you are completely wrong about Putin "not having special interest in Ukraine". He surely seemed quite emotional when proclaiming that "Ukraine is an artificial country" to French and German leaders not so long ago. Unfortunately, Ukraine does not need to invent outside enemy. We have a long border with one.
Slashdot Mirror
FB was started with 'They just trust me. Dumb fucks.' attitude. Same sleazebag is still in charge.
- By passport sticking from the front shirt poket.
That was a joke few years ago. Apparently that was a russian habit due to street searches by Moscow police. National ID card is not something new to them.
TFA failed to describe what that 'side-channel attach' is. But it was full of bitching about how tough is to measure latencies in network transmissions. Well, any competent network engineer knows that.
So what is author is going to cry about next? Tcp FIN_WAIT2 state?
Saves my *ss every week when I have to fix stuff riding train. You have choice of Dropbear and openssh from repositories.
The problem is not that speed is important -- the problem is that a small group of people/firms have an advantage over all other people participating in the market, because not everyone has equal ability to trade at high speeds. This allows them to engage in rent-seeking behavior that is detrimental to the market at large.
To paraphrase: the problem is that a small group of people who have these new fangled things called automobiles have an advantage over al other people on the streets because not everyone has equal ability to move at high speeds This allows them to engage in behavior that is detrimental to horse-driven carriages and pedestrians at large.
Question: are we better off in the past 100 years due to participation in the risk-taking behavior called "driving"?
When retail investor enters orders into his Schwab/Ameritrade/Interactive Brokers web portal, guess where those orders go? Yep, his broker colo facilities in Mahwah (NYSE), Carteret (NASDAQ) or Weehawken (ARCA/BATS). Main difference is that those orders get exercised by broker-owned systems and not customer's. Want your's gear in place? Power, cooling are not free as you probably know so be ready to pay up beyond $10/month account maintenance fee.
Anyway, you are missing the point. Investment in stock market does NOT require frequent executions. It is about buying when the stuff is cheap and then holding long time (like many years long) and then selling when you need money (not when it's expensive, that's speculation.) Speed is not important, valueing correctly to know when stuff is cheap is paramount.
I am involved in trading for living but did not touch my personal account in many-many months.
'Fat client' setup: client workstation + coprorate file/print/app servers.
'Thin client' setup: client workstation + VM servers + corporate file/print/app servers.
Given that cost to buy and maintain client workstations are very similar, 'thin client' setup means throwing money into maintaining VM servers to achieve worse workstation performance due to CPU and network contention.
So why bother?
You do realize that you are paying more than full retail for the phone during 2 year contract, don't you?
Why would anyone bother cracking the crippled phone (ok, jailbraking, whatever) when there is a better, competitively priced ($400) and completely open alternative (N900)? T-mobile does charge lower monthly fee and does not lock you into 2 year contract if you bring your own device. So again, why do you want to waste your time with any of the G-stuff that also spies on your keystrokes?
On the contrary, should other venues honor LPR the damage would be much worse.
From page 70 of the SEC report:
"we conclude that NYSE LRPs did not cause or create the broad-based liquidity crisis on
May 6. Nonetheless, as stated above, market participants reported that the increasing number of LRPs
being triggered on NYSE underscored the severity of market conditions as they were"
However, earlier on that page they also noted: "The data also do not suggest that significant liquidity was being attracted to the NYSE during the LRP." Which roughtly translates as "LPR are complete rubbish, do not work."
Overall, NYSE LPR only confused market participants, caused unnecessary panic and let to withdrawal of liquidity that might otherwise help to smooth out price variations.
Here are few important facts:
1. Waddell & Reed is the company whose aggressive selling triggered drop in S&P 500 futures price. The company is not HFT shop but rather long-term investment hedge fund. More here: http://www.bloomberg.com/news/2010-09-30/waddell-reed-e-mini-trades-are-said-to-have-helped-trigger-may-6-crash.html
2. According to SEC report, HFT traders played their intended role: smooth out short-term price volatility. However, due to enormous size of Waddell & Reed selloff (about $4 billion dollars in 75000 futures contracts during 20min.) they can do only that much. W&R just cut right through the order book on CME.
3. Slowing down the trading on NYSE did not help but rather hurt by locking up liquidity. Shitty NYSE Arca systems that handle ETFs overloaded and further exacerbated the problems.
4. At the end of day market returned to pre-crash levels. Long term investors were not hurt, W&R payed between 100 and 200 millions for their mistake.
5. Overall, market worked as expected.
There used to be a widely used Soviet slogan. Here is rough translation to English: 'everything for person, everything is in name of person". Notice the lack of articles, there are none in Russian. So the joke read as "Everything for person, everything is in name of person. AND I even know the name of THAT PERSON."
Of course, we never heard of "Animal Farm", not before l1991. Well, Fidel always was a good student of Russians.
Arguably, the overthrow of the socialist regime was the best thing that happened to Chile in recent history. Take a look how they do now comparing to their neighbors. Even recent economic crisis did not hurt them much.
Face it, most people are not that smart. US was founded a republic and not democracy for a reason.
I'm shocked, shocked. What happen to Chouchkhe movement? Weren't they supposed to use only pure communistic version of everything, including "interweb"?
The roadkill stats just highlight that 09/11 hurt America as much as a mosquito biting grizzly in the nose. Maybe made him angry and trashing a lot of stuff around without good reason. But that's about it. Lesson to mosquitoes - do not bite the bear if you do not want your habitat destroyed.
If you imply ~3K ppl lost on 09/11 that is nothing comparing to number of ppl dying every year in auto crashes (37261 in 2008, per NHTSA.) That is 10 767 every month. Each individual chances of dying in terrorist attach are infinitesimal to non-existent.
So, what was your point?
So I guess this is the part of "reload" which comrade Putin skipped to mention to Obama when they talked about "reloading" relationship b/w US and Russia?
Talking about "local economy", I have great idea how to really revive it. Why don't we all get a slingshot and a bunch of stones; then shoot out about 10 windows each? That's sure to provide great jobs for laid off construction workers. Maybe not so much that Space Shuttle, but it could be a start.
I would not be too surprised if MS stops pushing .NET in near future and instead pitches "new and improved" stuff. Totally incompatible with .NET, of course. I believe this is their way to keep windows developers busy re-learning new ways to do old tricks and too busy to look at MS competitors. .NET is 10 years old now btw. Remember VB6, DDE, OLE and WIN32? Yea, I do.
Mandriva 2010.1
WSJ, FT, and Economists walls are made of swiss cheese. Could it be a reason why those sites are not shut down yet?
The guys have some skin in the game. From their website: Nanex is the creator and developer of NxCore, a streaming whole market datafeed.
Their recommendations are moot too:
> 1. Quote and trade data must be time stamped by the exchanges at the time it is generated. This will ensure delays can be detected by everyone.
This data is already timestamped by all US exchanges. Data delays are mainly due to line delay and application delays that can be measured quite acccurately. Not many people do it properly though. Many does not look at it at all.
For individual long-term investor (5+ years) it does not matter at all anyway.
>2. Quote-stuffing should be banned.
Exchanges have already requirements for designated liquidity providers to quote at NBBO for X% of time (where generally > 90%). Presumably these providers receive some benefits for doing so (lower rates etc.) Do you think it is reasonable to force other people to buy and sell at a certain price? What if retail investor wants to sell his 100 IBM shares at $110 when market is $100?
> 3. Add a simple 50 millisecond quote expiration rule: a quote must remain active until it is executed or 50ms elapses.
Why exclude Alaska/Hawaiii? What if US citizen wants to trade from Baghdad Green zone and it takes 500ms to get signal there via sattelite link? Should we change thange the rules to accomodate that? Or should we allow people to compete by improving their systems?
The quality of their product is well known in Chicago.
Your advice is like 10 years too late. 6mil. people left already to work in EU and US. That's like 12% of total population.
While you are right about gas and resources as a weapon, you are completely wrong about Putin "not having special interest in Ukraine". He surely seemed quite emotional when proclaiming that "Ukraine is an artificial country" to French and German leaders not so long ago. Unfortunately, Ukraine does not need to invent outside enemy. We have a long border with one.