Nanex, a data-services firm, has discovered mysterious high-speed trading bots operating on the major stock exchanges, executing thousands of nonsensical transactions per second (for example, they may offer to buy a stock at a price much lower than the current quote, or to sell it at a much higher price). No one knows what these bots are trying to do: is just just a DoS attack on the exchange? Radar-chaff to prevent other bots from detecting another strategy? Bad code? Some call it "algorithmic terrorism" though Nanex is calling them "crop circles." Perhaps they're merely "quote stuffing" or "market spoofing" -- the jargon is delicious.
Here we see a "flag repeater" being executed on the BATS Exchange, the third-largest equity market after the NYSE and NASDAQ. 15,000 quote requests were made in 11 seconds in a repeating pattern. Each iteration upped the quote a penny until $9.36, and then the algorithm went down the same way, a penny at a time.
Wells Fargo’s Board of Directors have finally exercised their right to claw back part of the hundreds of millions of dollars taken home by two senior executives who were compensated on the basis of the fraudulent earnings the bank took in while opening 2,000,000 secret accounts in their customers’ names, taking money out of those […]
Yesterday, Google announced “Youtube Go,” an “offline first” version of the popular video service designed for the Indian market where internet coverage is intermittent, provided by monopolistic carriers that have a history of network discrimination, and where people have a wide variety of devices, including very low-powered ones.
Vaping is getting more mainstream by the day, which means there’s been an influx of quality yet affordable vaporizers on the market. We’re particularly excited about the APX Wax Vaporizer Kit, which is an easy-to-use, high-quality vape that works with both dry herbs and waxy concentrates.If you’re a beginner trying to get into vaping, the APX […]
When you’ve had a long day and it’s time to unwind, there’s a lot you can do to relax: drink some tea, take a shower or even read a book. But there’s one thing that’s essential to a comfortable night’s rest—and that’s investing in some really good sheets. Enter Bamboo Bed Sheets. These quality sheets retail for $120, but […]
The Avantree Powerhouse 4 Port Fast USB Charging Station brings high quality, high power, and still keeps your work space or home looking neat and organized. The best part about this charger is its capacity. It comes packing 4 USB charging sockets and a powerful 4.5A/22.5W output.. Its smartport technology means you don’t have to worry about frying your battery, either—it […]