CyrusOne argues that its microwave tower, which sits feet outside the CyrusOne data center that houses CME’s derivatives exchange, is obstructed by a new one erected by Scientel. Scientel denies. >>> Read the full article @ Chicago Business
The revenue Robinhood gets from a controversial practice of selling customer trades to high frequency trading firms is skyrocketing, according to new research. >>> Read the full article @ CNBC
As humans we cannot operate on the millisecond time scale — but algorithms can, and it is these algorithms that are now dominating the financial landscape. In this TEDx Wall Street talk Sean Gourley examines this high frequency algorithmic ecosystem.
Rather than trusting their trades to the vagaries of the Internet and risk an unfavorable routing path or a cable severed by an errant backhoe, high-frequency trading firms often rely on microwave links to exchange information. The links are similar to the microwave backbone that once stitched the phone system together: point-to-point links via dedicated microwave dishes. >>> Read the full article @ Hackaday
Stretching between London and Frankfurt there is a private, mysterious network that is twice as fast as the normal Internet. The connection, provided by a series of microwave dishes on masts, was once completely secret: only one very rich company was allowed to use it, and no one else knew about it. >>> Read the full article @ Ars Technica
Eric Hunsader, founder of Nanex, has been at the vanguard of warning about the dangers and the rampant fraud that the rise of high-frequency trading (HFT) algorithims have let loose in today’s financial markets. >>> Read the full article @ Peak Prosperity
The SEC doesn’t release the names of its whistleblowers but Hunsader alerted the media himself to his award in order to silence critics and one particular executive at the New York Stock Exchange who had, heretofore, disparaged in public Hunsader’s allegations about the NYSE’s discriminatory dissemination of market data in order to benefit high frequency traders. >>> Read the full article @ Wall Street On Parade