The Santelli Exchange, HFT trading

Jeff Carter

We need to have a long dialogue about this. HFT isn’t terrible for markets in general. But the way it’s being done today will kill the markeplace.

American markets aren’t like European or Asian markets because we have independent traders that trade their own money. It’s in our DNA and an integral part of our history. Other marketplaces don’t have the independents. They are bank traders or fund traders.

Electronic Trading Vs Open Outcry

There is a pretty big debate going on among traders right now. Neophytes say it’s about electronic trading versus open outcry, but it’s really a lot more than that.

Jeff Carter

Jeffrey Carter is an independent speculator. He has been trading since 1988. His blog site, Points and Figures was named by Minyanville as one of The 20 Most Influential Blogs in Financial Media.

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3 Comments So Far

Gordon242 Wrote: Jun 23, 2012 5:55 AM

We must aim for transparency and you do that by having a central place that all trades must go to, such as the NYSE or CME. The 2008 crash was because those swap trades were done in the backrooms and not out in the open.

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Greg1084 Wrote: Jun 23, 2012 1:15 PM

Wouldn't this be putting all of one's eggs in one basket?

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Jeff3820 Wrote: Jun 23, 2012 9:03 PM

Not sure what you mean. I think that forcing everything to an exchange is incorrect when it comes to exotic OTC derivatives contracts. But standardized contracts should be at an exchange.

By the dearth of comments on this post, it's clear to me that the conservatives don't really understand the market. They should. But it escapes them. (Liberals too)

Markets are esoteric and hard to understand.

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The Santelli Exchange, HFT trading

Electronic Trading Vs Open Outcry

Jeff Carter

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