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Tag Archives: hft
Deus Ex Macchiato, Unreliable journalism in commenting on derivatives valuation, here.
Peter Eavis has a Dealbook post which, sadly, reiterates many of the common misunderstandings about derivatives valuation. Let’s start from first principles, and try to understand what is really going on here.
” They are the worst,” Keith Apicary.
SLOBs and CLOBs, here.
The Streetwise Professor, reviewing Haim Bodek’s The Problem of HFT, makes an important point about true central limit order book markets (CLOB markets) vs. those where a poor simulacrum of a central limit order book (SLOB) is created via market linkages:
Izabella Kaminska, Alphaville, It’s not finance, it’s Cy-fi, here. Paper is in the UCLA Law Review. I have a feeling this is going to be distonic to the folks at Mercer County Cash Register – but I’ll give it a read on the train home tonight. Pink I is shorting the “Cy-fi” acronym right away, maybe the paper is better than the acronym.
Which makes us wonder, is this really as bad a development as HFT’s critics make it out to be?
Cue a research paper just released by Tom Lin of the University of Florida. He argues that it’s no coincidence that “modern finance is becoming an industry in which the main players are no longer entirely human. Instead, the key players are now cyborgs: part machine, part human. Modern finance is transforming into what this Article calls cyborg finance.”
Call it the dawn of Cyborg finance, or “Cy-fi” as he calls it for short.