The Mystery Of High-frequency Trading

Something mysterious rattled one of the world’s most stable financial markets for 12 harrowing minutes on Oct. 15, 2014.During that brief window, the yield on the 10-year Treasury note—a benchmark security critical to funding the federal government—dropped dramatically and then surged, and no one could tell why. It was, said JPMorgan Chase CEO Jamie Dimon, “an event that is supposed to happen only once in every 3 billion years.

Topics:  oct   jpmorgan chase ceo jamie dimon   t-note   michael lewis    moneyball     the big short    hft   hillary clinton   democratic   wall street    clinton    donald trump   part of the   virtu financial   treasurys   joseph saluzzi   themis   exchange commission   athena capital   research    gravy   do you   washington   sec chair mary jo white    she   andrei kirilenko   commodity futures    former cftc   dan berkovitz   wilmerhale    rather    cftc chairman timothy massad    the cftc   cftc commissioner j christopher giancarlo   republican   states    massad   lewis's flash boys    nasdaq   treasury   jpmorgan chase   is   the    flash boys    clinton    saluzzi   trading   sec    i   sept   iex   market   markets   traders   investors   regulators   firms   firm   algorithmic   agency   technology   access   stock   trade   government   faster   world   rule   code   predatory   years   day   require   automated   agencies   people   race   harmful   systems   private   design   happen   sidelines   months   funding   including   crash   stable   making   investigation   stocks   proposal   major   data   critics   year   find   measure   bucket   event   source   privately   work   trades   quickly   excessive   innovation   concern   amounts   moved   strategies   giving   concerns   tax   put   connections   exchanges   wrong   platform   problems   provide   aggressive   interview   hurt   players   fair   u.s   liquidity   
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