Monday, December 19, 2016

Unfair pit bosses, busted

This article talks about foreign exchange markets.  The trading pits are generally rigged as the pit boss does not allow robotic trading next to the pit. Access to the trading graph is not fairly priced.  Hence, traders around the world have been sending fake trades to extract the state of the trade graph.  Actual human financiers are getting a clue!
Financial Magnates: Graeme Burnett said that exchange technologies are catching up, pointing to Eurex as an example because the derivatives market now allows participants to see the timings of the individual elements of exchange operations.“People had a much greater idea of what the inbuilt latencies of the exchange were rather than having to send fake trades to actually time the trade route, which was quite common,” he said.
Why has the technology community not responded? So far, only Microsoft gets this problem, Gaggle is clueless, and Apple is not even in the game.

Gaggle is the puzzle because trading pits are very close to deep learning algorithms.  So some dweeb at Gaggle should have had the 'Ah ha' moment.

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