141–150 of 328 posts
It seems like we could save a lot of pointless expenditure on an ultimately meaningless arms race in flash trading if we imposed reasonable limits on the time required to hold an equity in order for a trade to be legally recognized.
But why? Who is the victim here?
"Using so-called microservices to break complicated problems into easy-to-solve ones" I would love to see microservices which actually solve problems and reduce complexity! :(
However, things that are virtually impossible to enforce or even very hard to implement in a monolith, are made manageable if you have the proper setup. That includes central standardised logging, tracing, metrics and monitoring. If you have these in place and can enforce them, you're off to a good start.
These things rarely happen in a v1 though - which usually is a POC that ends up in production, and if you have a full-blown microservice architecture from the start, this will probably grow into something a lot worse than huge PHP monolith. With microservices you need to design a 'platform', and ad-hoc POC development never results in a good design, but just something that functionally works.
Markets around the world are determining prices on a massive variety of instruments that derive value from the current and future value of products such as currencies, interest rates, equities, grains, livestock, metals, oil, gasoline, natural gas, and electricity. These prices allow us to prioritize resources, make fair transactions, and manage risk (i.e. buy insurance on the value of critical products so that we ca…
The theory sounds great. But why then, our streets are lined with homeless, and our nations are stricken with poverty? Could it be that the only real aim and motivation of market traders is to earn money? One day, maybe.... when these are replaced with DAOs on the blockchain. But until then it's the Wolf of Wall Street.
Markets around the world are determining prices on a massive variety of instruments that derive value from the current and future value of products such as currencies, interest rates, equities, grains, livestock, metals, oil, gasoline, natural gas, and electricity. These prices allow us to prioritize resources, make fair transactions, and manage risk (i.e. buy insurance on the value of critical products so that we ca…
Is there any empirical evidence that these perceived benefits to society actually ever materialize? It's clear that there is a benefit to a trader from knowing something milliseconds before the rest of the market (otherwise Goldman wouldn't be doing this), but it's not clear at all to me that it helps the rest of us.
It's difficult to say 'things would be X% more expensive' because of the interconnected complexity the GP was talking about, but there is definitely a very apparent benefit.
"Using so-called microservices to break complicated problems into easy-to-solve ones" I would love to see microservices which actually solve problems and reduce complexity! :(
I am curious how that will help latency here. It must be pretty bad if refactoring and adding more network connections is an improvement.
"Using so-called microservices to break complicated problems into easy-to-solve ones" I would love to see microservices which actually solve problems and reduce complexity! :(
Complexity is never reduced, but made more manageable. Microservices make a good architecture a lot harder, certainly if you have to start with a blank slate and don't really have an idea what you're up against. However, things that are virtually impossible to enforce or even very hard to implement in a monolith, are made manageable if you have the proper setup. That includes central standardised logging, tracing, me…
People love to rail on HFT, but at this point, its really not that profitable. It's just a reality of trading in the markets. There was a blip of time between 2008 and 2014 when HFT was extremely profitable. Those inefficiencies have been gone from the market for years. People were whooped into anger about how much money was being made, at this point its a complete non issue and needs to be removed from the highlight…
>People love to rail on HFT probably because it's difficult to see any actual value that this provides to society.
Markets around the world are determining prices on a massive variety of instruments that derive value from the current and future value of products such as currencies, interest rates, equities, grains, livestock, metals, oil, gasoline, natural gas, and electricity. These prices allow us to prioritize resources, make fair transactions, and manage risk (i.e. buy insurance on the value of critical products so that we ca…
The theory sounds great. But why then, our streets are lined with homeless, and our nations are stricken with poverty? Could it be that the only real aim and motivation of market traders is to earn money? One day, maybe.... when these are replaced with DAOs on the blockchain. But until then it's the Wolf of Wall Street.
That or moral apathy. At some point in the 80s we decided that markets driven by business profits should dictate every aspect of society.
I imagine 100 years from now they'll look back at today in disgust.
Markets around the world are determining prices on a massive variety of instruments that derive value from the current and future value of products such as currencies, interest rates, equities, grains, livestock, metals, oil, gasoline, natural gas, and electricity. These prices allow us to prioritize resources, make fair transactions, and manage risk (i.e. buy insurance on the value of critical products so that we ca…
The upshot of this argument is that this is valuable activity. We need markets to price tradable assets and provide liquidity. The counterargument is that there are diminishing and/or negative returns to increased liquidity and velocity. Take just stocks. Liquidity is not a problem. You have liquidity whether trades take minutes or milliseconds. Pricing? I'd say we have pricing covered too, at least the pricing that…
Markets around the world are determining prices on a massive variety of instruments that derive value from the current and future value of products such as currencies, interest rates, equities, grains, livestock, metals, oil, gasoline, natural gas, and electricity. These prices allow us to prioritize resources, make fair transactions, and manage risk (i.e. buy insurance on the value of critical products so that we ca…
Is there any empirical evidence that these perceived benefits to society actually ever materialize? It's clear that there is a benefit to a trader from knowing something milliseconds before the rest of the market (otherwise Goldman wouldn't be doing this), but it's not clear at all to me that it helps the rest of us.
Finance is an online multiplayer game.
They are two weakly-connected systems.