Silver as an investment

Category Archives: GETCO

DOJ Probing Whether Citadel Is Frontrunning Its Clients

Over two years ago, and just days after Michael Lewis released Flash Boys focusing attention on the ongoing criminal practice of orderflow frontrunning by such Fed intermediaries as Citadel (and many other now entrenched and recently IPOing names), none other than Citadel’s head of “Execution Services” which we supposed is the internal name of the […]

How High Frequency Traders Broke, And Manipulated, The Treasury Market On October 15, 2014

We were amused to read some interpretations of today’s long-awaited joint-staff report (prepared by the Treasury, Fed, SEC and CFTC) attempting to “explain” the flash smash in Treasury prices on October 15, 2014 when as a reminder, Treasury prices exploded and yields plunged just around 9:34 am from a level of 2.20% to just over […]

Steve Cohen Is Now Hiring “Creative And Innovative” Traders Right Out Of College

To all 20-something math PhDs whose hopes of rigging markets and igniting (upward) momentum with the Fed’s explicit blessing, leading to 8 figure annual salaries, had been dashed in recent years as Getco, Citadel, and all other HFT firms now directly cannibalize each other in a imploding market in which there are almost no size […]

Market Wrap: All Eyes On Yellen Who Better Not Disappoint

While all the algos are programmed and set to scan today’s FOMC statement for whether both “patient” and “considerable time” are still there (as it did last time when it supposedly sent a pseudo-hawkish message while telling Virtu and Getco to buy, buy, buy), the market is torn between the trends observed in recent days: […]

Europe Probing HFTs For Providing “Fake Liquidity”

Not a day passes without some HFT company being charged (and slapped on the wrist) for rigging this market or that, or without some lie about the “benefits” of High Frequency Trading being blown to oblivion. Of these lies, none is of course bigger than “HFT’s provide liquidity.” But even that may be about to […]

How Barclays Got Caught Red-Handed With “Pernicious HFT Fraud”

First it was gold, now it is HFT – poor Barclays just can’t get away with any market rigging crime these days. Remember when in the aftermath of the most recent Michael Lewis-inspired HFT scandal, one after another HFT and Dark Pool exchange swore up and down they know, see, hear and certainly trade no […]

12 Largest Banks Sued By Public Retirement Funds For “Conspiring To Rig Global FX Markets”

Yesterday, we read with some amusement that Goldman has moved Guy Saidenberg, reportedly one of the greater profit centers at the firm – and how could he not be when he always traded against Tom Stolper’s recommendations which led to tens of thousands of pips in losses to those who listened to him over the […]

Read Michael Lewis’ Flash Boys: A Wall Street Revolt: An Adaptation

This article is adapted from the book “Flash Boys: A Wall Street Revolt,” by Michael Lewis, published by W. W. Norton & Company. Courtesy of The New York Times Magazine. The full Michael Lewis book can be purchased on Amazon. The Wolf Hunters of Wall Street Before the collapse of the U.S. financial system in 2008, […]

Exposing Wall Street’s Hidden “Code”

Having been the first to warn the world about the perils of high frequency trading nearly 5 years ago, when momentum ignition, layering and quote stuffing were still incomprehensible buzzwords to all but a select few algo traders from Citadel, GETCO and DE Shaw, and warning about such top-down systemic lock ups like flash-crash over […]

Bullrun: The NSA’s Infatuation With “Back Door” Penetration

In all the stories surrounding mass interception, recording (and abuse) of every form of private electronic communication by the NSA, there was always one missing link: encryption. After all, the NSA’s primary task has always been to decrypt data, not to record and store every bit of communication traversing the ether or the internet. And […]