Quote:
Originally Posted by jefftheshark
It's called "front-running" and is responsible for the 100% profitable days in a quarter for the TBTF prop desks.
It would also be called "stealing" if we actually had a SEC that enforced that kind of thing.
But we don't.
So it isn't.
JTS
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But.... BUT!
We are 100% protected against semi famous household guru's who might use insider information.
So if someone gets any bright ideas about making a big killing off a tip instead of making decorative placemats out of old pizza boxes, well you're good to go, and can feel safe against such horrors.
If you think some IB trading over colocated servers a 1000 times a second picking off your trades is wrong, wonk wonk wonk, sorry sucker, we call that crap liquidity, now f off.
I did just read about Google, and I'm sure it's legal now, but they're now setting up a trading desk and I thought I heard they're going to use their search data on funds to help them trade.
Moral of the story, if there's a buck on the floor, someone will invent some kind of system to suck it up, rather than try and simply make their own money and just so you know.
IMO they think you're wallet is the same thing as the floor.
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