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A High Frequency Trader's Apology, Pt 1
I’m a former high frequency trader. And following the tradition of G.H. Hardy, I feel the need to make an apology for my former profession. Not an apology in the sense of a request for forgiveness of wrongs performed, but merely an intellectual justification of a field which is often misunderstood.
In this blog post, I’ll attempt to explain the basics of how high frequency trading works and why traders attempt to improve their latency. In future blog posts, I’ll attempt to justify the social value of HFT (under some circumstances), and describe other circumstances under which it is not very useful. Eventually I’ll even put forward a policy prescription which I believe could cause HFT to focus primarily on socially valuable activities.
Also, after you are done reading, go read the HN Comments. Many of them are excellent. In particular, some clarification and correction is made to what I’ve posted - e.g., Midpoint Passive Liquidity orders are discussed, which is a partial exception to my talk of the subpenny rule. -
A case that could turn software industry on its head
A case that could turn software industry on its head
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15 MIT Research Projects That Will Make You Say 'Whoa' CIO.com
Ghosts of the Past
Despite having a name fit for a horror flick, Ghosts of the Past is likely to be used more often for reliving the good old days. Rather than trying to verbally describe a situation, event, or even a person whose name you might not recall, Ghosts of the Past projects video from a previous event against a backdrop image of the very setting in which it occurred. Through this website, those backdrops (called “canopies”) and video clips (or “panoramas”) can be paired for viewing on an iPad. QR codes add another layer, allowing the user to print and paste a copy in that very same location, so others can experience your birthday party even if they weren’t invited.
Wednesday, April 18, 2012
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