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.
Vtech is a ubiquitous Hong Kong-based electronic toy company whose kiddy tablets and other devices are designed to work with its cloud service, which requires parents to set up accounts for their kids. 4.8 million of those accounts just breached, leaking a huge amount of potentially compromising information, from kids’ birthdays and home addresses to […]
BMG Rights Management and Round Hill Music. has been trying to enlist Cox Cable as an accomplice in a copyright trolling scheme, demanding that the company pass on copyright infringement notices that accuse users of downloading music and order them to pay large sums of music or face punishing lawsuits.
This minimalist multi-tool will see to it that instead of rocking a tool belt, you’ll carry just one. It’s shaped slightly like a key and weighs less than an ounce, so it plays nice with your keychain. The strong surgical-grade stainless steel blade will last, and is handy for everyday tasks like opening boxes and […]
The Code Black is our top-selling drone of all time—and for good reason. This powerful, palm-size drone is not only insanely fun to fly, but can capture some serious video footage from up above. With a flight time of about 10 minutes and an ultra-smooth ride, it’s a great introductory drone for anyone looking to […]
Don’t get handcuffed by Apple’s standard 3-foot Lightning cord (that you’ve most likely already lost), treat yourself to 10 feet of luxurious charging convenience. The Colossal is certified by Apple for its high-end quality, and designed to support full use of your phone while you power up. You can also get it in a 2-pack […]