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(The New York Times)   America's ugly exposure to market risk leads other nations to limit flashing by traders   (nytimes.com) divider line 15
    More: Interesting, Wall St, trade, market risk, Royal Bank of Canada, Toronto Stock Exchange, stock trading, traders, Investment Technology Group  
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934 clicks; posted to Business » on 26 Sep 2012 at 10:39 PM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-09-26 05:02:21 PM  
The US could try to make trading at least public by doing away with the corrupt dark pools and kill line jumping by collocating. The major US markets do not even try to give the appearance equality of opportunity to all investors. Still waiting for someone to go to jail for the massive well document fraud that caused the economic meltdown in the first place.
 
2012-09-26 06:48:47 PM  
I don't think we should limit trading. I think we should tax trading. The more high-speed trades Wall Street wants to do, the more money we bank to bail them out next time they shart the entire world market.
 
2012-09-26 07:00:06 PM  

brianbankerus: I don't think we should limit trading. I think we should tax trading. The more high-speed trades Wall Street wants to do, the more money we bank to bail them out next time they shart the entire world market.


This right here. Taxing even a tiny fraction of a percentage on each transaction would end this nonsense right quick. Or raise a shiatload of revenue. Either would be fine.
 
vpb [TotalFark]
2012-09-26 07:44:30 PM  

eurotrader: The US could try to make trading at least public by doing away with the corrupt dark pools and kill line jumping by collocating. The major US markets do not even try to give the appearance equality of opportunity to all investors. Still waiting for someone to go to jail for the massive well document fraud that caused the economic meltdown in the first place.


Why? Do you think it will happen someday?
 
2012-09-26 09:05:47 PM  
I have a really stupid question. How do day traders figure out their capital gains taxes?
 
2012-09-26 09:39:55 PM  

brap: I have a really stupid question. How do day traders figure out their capital gains taxes?


If it's held less than a year, it's short-term capital gain, which is taxed at the regular income rate.
 
2012-09-26 09:41:08 PM  
There is an upside to computer trading. When a massive sell-off happens and markets panic, more sell-offs happen. Computers aren't so irrational, and will start quickly buying cheap stock, stopping the massive sell off.
 
2012-09-26 11:26:09 PM  

vpb: eurotrader: The US could try to make trading at least public by doing away with the corrupt dark pools and kill line jumping by collocating. The major US markets do not even try to give the appearance equality of opportunity to all investors. Still waiting for someone to go to jail for the massive well document fraud that caused the economic meltdown in the first place.

Why? Do you think it will happen someday?


No. Too much money to be made. With a few trading houses making hundreds of millions they can for less than 5% yearly profit at least rent a senator or 2 and more than a handful of members of the house to make sure no such law ever passes. The SEC guys rotate between being overseer and making a big bonus at firms they oversee.
 
2012-09-26 11:49:08 PM  
strip
naked short selling
 
2012-09-27 12:43:45 AM  
It could be a nice jobs program. Every transaction must be done with actual paper; each certificate would then have to be signed by someone representing both parties. Slows it down, gets people paid, we get to tax their income.

/Anything to make those floor monkeys miserable.
 
2012-09-27 12:54:55 AM  

impaler: There is an upside to computer trading. When a massive sell-off happens and markets panic, more sell-offs happen. Computers aren't so irrational, and will start quickly buying cheap stock, stopping the massive sell off.



Right. So is that why when glitches and other mistakes happen the market drops off a cliff and only pulling the plug on all trading by the regulators stops the thud?
 
2012-09-27 03:51:03 AM  

intelligent comment below: impaler: There is an upside to computer trading. When a massive sell-off happens and markets panic, more sell-offs happen. Computers aren't so irrational, and will start quickly buying cheap stock, stopping the massive sell off.


Right. So is that why when glitches and other mistakes happen the market drops off a cliff and only pulling the plug on all trading by the regulators stops the thud?


I didn't say there wasn't a downside. They can also accelerate a crash. Like almost everything, there is a good and a bad. Try to amplify the good and medicate the bad.
 
2012-09-27 05:03:53 AM  
We had a similar move here on the Moscow Exchange i.e. charging extra fees for entering ultra-high volume of orders and cancelling them immedeately - significantly improved the situation with the exchage's infrastructure. Do not think that's enough, but it is a good start.
 
2012-09-27 10:08:40 AM  
Mediate, not medicate
 
2012-09-27 10:17:30 AM  
We need to level the playing field. Accure transactions and only execute them on "tick" at a defined interval. All pending orders are "dark" until they are executed on each tick. This would prevent these shenamigans and make the market fair to all players, big and small.

Sadly, the chances of it happening are laughably slim. Money plays, logic walks.
 
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