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Mysterious Algorithm Was 4% of Trading Activity Last Week

concealment (2447304) writes | about a year and a half ago

Businesses 1

concealment writes "A single mysterious computer program that placed orders — and then subsequently canceled them — made up 4 percent of all quote traffic in the U.S. stock market last week, according to the top tracker of high-frequency trading activity. The motive of the algorithm is still unclear.

The program placed orders in 25-millisecond bursts involving about 500 stocks, according to Nanex, a market data firm. The algorithm never executed a single trade, and it abruptly ended at about 10:30 a.m. ET Friday."

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1 comment

The motive of the algorithm is still unclear (1)

dgharmon (2564621) | about a year and a half ago | (#41604509)

Presumably the algorithm was designed to promote cost-free trades in certain stocks ...
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