tag:blogger.com,1999:blog-4039434.post4232128564394689569..comments2024-02-26T06:46:53.171-05:00Comments on Rajiv Sethi: Spoofing in an Algorithmic EcosystemRajivhttp://www.blogger.com/profile/13667685126282705505noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-4039434.post-55167388593657866412015-04-28T21:38:51.592-04:002015-04-28T21:38:51.592-04:00Nice example. Matt Klein has a great post with mor...Nice example. Matt Klein has a great <a href="http://ftalphaville.ft.com/2015/04/28/2127728/a-regulatory-spoof/" rel="nofollow">post</a> with more.<br /><br /><br /><br />Rajivhttps://www.blogger.com/profile/13667685126282705505noreply@blogger.comtag:blogger.com,1999:blog-4039434.post-74009852338662953212015-04-28T18:54:16.713-04:002015-04-28T18:54:16.713-04:00It was not uncommon for pit traders, in attempts t...It was not uncommon for pit traders, in attempts to tease out the market, to make unrealistic offers and bids which were then quickly withdrawn before they could be lifted or hit. Moreover, the pit would sometimes conspire to let one or two contracts trade for the sole purpose of printing a new high in order to elicit trades from retail (dumb money) traders. Few locals were ever sanctioned for these behaviors.<br />Low impact spoofing?formerlocalhttps://www.blogger.com/profile/00445436948359942565noreply@blogger.comtag:blogger.com,1999:blog-4039434.post-67342556586640583702015-04-23T08:55:55.615-04:002015-04-23T08:55:55.615-04:00Thanks... I initially saw four but now I also see ...Thanks... I initially saw four but now I also see forty. I've made the correction. Rajivhttps://www.blogger.com/profile/13667685126282705505noreply@blogger.comtag:blogger.com,1999:blog-4039434.post-70016160631978285532015-04-22T21:12:30.626-04:002015-04-22T21:12:30.626-04:00"In this manner he was able to syphon off a m..."In this manner he was able to syphon off a modest portion of HFT profits, amounting to about four million dollars over four years." You noted.<br /><br />However, the newspapers are reporting that "the prosecutors allege he generated $40m of trading profits over a five year period."<br /><br />Paraphrasing Senator Everett Dirksen, tens of millions here, tens of millions there, soon you are looking at some real money.TheGoodTheBadTheUglyhttps://www.blogger.com/profile/01883582118963573951noreply@blogger.com