A fast paced stock exchange trips over itself • Hacker News Board

Re: A fast paced stock exchange trips over itself

#21

Post by apaprocki » Sat, Mar 24, 2012, 11:58 PM UTC

olalonde wrote: post #9

Off-topic but related: I infer from the articles that shares from a given company can be traded on multiple stock exchanges. Can someone knowledgeable confirm that this is right? In that case, why is the symbol for Apple "NASDAQ:AAPL" on Google Finance? http://www.google.com/finance?q=apple

Yes, common stock trades on many exchanges around the world. If you would like to get an idea of how many exchanges, you can use Bloomberg's BSYM data to see the individual tickers:

http://bsym.bloomberg.com/sym/

Search for "AAPL" and type in "Common" into the "Security Type" column filter. A list of exchange code mappings ("Pricing Source" column) to their names can be found in this spreadsheet:

https://software.bloomberg.com/coredataportal/docs/exchcodem...

Re: A fast paced stock exchange trips over itself

#22

Post by jaipilot747 » Sun, Mar 25, 2012, 12:09 AM UTC

rhizome wrote: post #16

javert wrote: post #8

Earlier quoted context omitted.

In my opinion, not at all. The stock exchange is an inherently risky market; everbody knows that. The only responsibility you have is to yourself and your own money. That's a far cry from aeronautics.

Just because an activity has risk involved doesn't mean it should be thrown to the wolves. You might also familiarize yourself with the Just World Fallacy: http://en.wikipedia.org/wiki/Just-world_hypothesis

Thank you very much for that link. It was a fascinating read to say the least.

Re: A fast paced stock exchange trips over itself

#23

Post by apaprocki » Sun, Mar 25, 2012, 12:14 AM UTC

rabidsnail wrote: post #18

moonchrome wrote: post #7

Earlier quoted context omitted.

>The problem could have been caused by a strange hardware defect, a rare bug in a library, etc. Or competition, a disgruntled employee, etc. Just speculating but IMO it's a pretty big coincidence that it failed exactly when they did the IPO.

Their IPO might have caused a spike in trading volume on their exchange, which might have triggered the bug.

Check the graph: http://www.nanex.net/aqck/3079-2.jpg

It happened in less than a second.

Re: A fast paced stock exchange trips over itself

#24

Post by velus » Sun, Mar 25, 2012, 2:22 AM UTC

The efficient market has found the true value of BATS exchange at $0.038 per share. :)

Re: A fast paced stock exchange trips over itself

#25

Post by Drbble » Sun, Mar 25, 2012, 2:35 AM UTC

javert wrote: post #8

rhizome wrote: post #5

Earlier quoted context omitted.

To be sure, mucking about on the stock exchanges should earn a closer comparison of QA responsibility to aeronautics.

In my opinion, not at all. The stock exchange is an inherently risky market; everbody knows that. The only responsibility you have is to yourself and your own money. That's a far cry from aeronautics.

Aerospace is inherently risky! The planet and skies do not submit to human authority.

Re: A fast paced stock exchange trips over itself

#26

Post by dredmorbius » Sun, Mar 25, 2012, 4:08 AM UTC

delinka wrote: post #6

zheng wrote: post #3

“My heart goes out to the guys,” said Larry Tabb, the founder and chief executive of the Tabb Group, a financial research firm. “On the biggest day of their corporate history, their own platform backfired.” Maybe I'm just reading too much into this, but this quote makes it sound like Tabb really doesn't understand technology. The platform didn't "backfire", the gods of finance didn't frown upon their venture, their c…

Everything is preventable (or more correctly, predictable) when you know everything about the system. If we knew everything about the quanta of the universe, we'd know when solar flares and neutrinos and alpha particles were going to affect our satellites and other electronics. Since we don't know everything (not even everything about our own creations like stock exchange markets and software systems), it becomes ris…

Heisenberg on line 1, or 2, I can't be certain, but he says you're wrong.

Re: A fast paced stock exchange trips over itself

#27

Post by javert » Sun, Mar 25, 2012, 4:36 AM UTC

rhizome wrote: post #16

javert wrote: post #8

Earlier quoted context omitted.

In my opinion, not at all. The stock exchange is an inherently risky market; everbody knows that. The only responsibility you have is to yourself and your own money. That's a far cry from aeronautics.

Just because an activity has risk involved doesn't mean it should be thrown to the wolves. You might also familiarize yourself with the Just World Fallacy: http://en.wikipedia.org/wiki/Just-world_hypothesis

I don't see the connection between the discussion and the just-world hypothesis.

Re: A fast paced stock exchange trips over itself

#28

Post by joshu » Sun, Mar 25, 2012, 5:10 AM UTC

TimGebhardt wrote: post #17

olalonde wrote: post #9

Off-topic but related: I infer from the articles that shares from a given company can be traded on multiple stock exchanges. Can someone knowledgeable confirm that this is right? In that case, why is the symbol for Apple "NASDAQ:AAPL" on Google Finance? http://www.google.com/finance?q=apple

Yup, different types of financial products trade differently. Stocks and bonds are "fungible" meaning that they can be traded on any exchange that will let them, or even via private agreement which is called Over The Counter (OTC). Futures are not fungible, so contracts that are traded have to be traded on the same exchange where you got them. The main reason for this is that each futures has a contract specification…

fungible means that one item is the same as another. that they can be traded across different exchanges because of that fungibility is not necessarily a property of fungibility.

Re: A fast paced stock exchange trips over itself

#29

Post by delinka » Sun, Mar 25, 2012, 2:49 PM UTC

dredmorbius wrote: post #26

delinka wrote: post #6

Earlier quoted context omitted.

Everything is preventable (or more correctly, predictable) when you know everything about the system. If we knew everything about the quanta of the universe, we'd know when solar flares and neutrinos and alpha particles were going to affect our satellites and other electronics. Since we don't know everything (not even everything about our own creations like stock exchange markets and software systems), it becomes ris…

Heisenberg on line 1, or 2, I can't be certain, but he says you're wrong.

Heisenberg doesn't say that we wouldn't have absolute predictability or control if we knew everything. He says we can't know everything. He's correct, but that doesn't negate my statement.

Re: A fast paced stock exchange trips over itself

#30

Post by rhizome » Sun, Mar 25, 2012, 5:47 PM UTC

javert wrote: post #27

rhizome wrote: post #16

Earlier quoted context omitted.

Just because an activity has risk involved doesn't mean it should be thrown to the wolves. You might also familiarize yourself with the Just World Fallacy: http://en.wikipedia.org/wiki/Just-world_hypothesis

I don't see the connection between the discussion and the just-world hypothesis.

One interpretation is that the JWH means that people get what they deserve. The connection is your assertion that the markets are risky, people should know this, so quality controls are superfluous.