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  • Another sign it’s been a tough year for high-frequency trading

    From marketwatch.com

    Virtu Financial’s CEO Vincent Voila is not having a good year. First, his company’s IPO gets cancelled, and now he can’t unload his palatial Upper East Side mansion. In April, high-frequency trading firm Virtu postponed its plans to go public indefinitely amid the firestorm kicked off by Michael Lewis’s book “Flash Boys,” which accused high-frequency trading firms, or HFT firms, of rigging the markets. Six months later, there are no signs of revival. Virtu had planned to raise more than $200 million through its IPO. “They [Virtu] became a poster-child for people that want to attack high-frequency ... (full story)

Such bullshit... sorry he had to lower his asking price to 98 MILLION. His algos aren't as good as the next algos... too fucking bad.
Anything bad for hft is good for me
I have never seen a mansion with such tacky decor (well actually I have but this has gotta be the 2nd most tacky mansion that I have seen) no wonder he has so much trouble unload it.
Just finished reading 'Dark Pools' by Scott Patterson, so not surprised HFT traders are having a hard time. Their trading tactics have a limited life span. They are not trading in the true sense, but scamming the system. Years ago I read the Markets Wizards books, and one of the interviews back then spoke of a little system that worked like clockwork making easy money, BUT then started to fail. They all look for some sort of pattern that can be traded with or against. Information on any 'good thing' will get out and more people will copy, leading to a new pattern that can and will be traded against. All those happy in the know winners become the new losers and the cycle continues.
Get rid of all hft . They serve no purpose but to manipulate.
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  • Posted: Sep 19, 2014 2:22am
  • Submitted by:
     Newsstand
    Category: Entertainment News
    Comments: 5  /  Views: 2,023