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Thanks for the answers everyone!!!

Thank you.

I was chatting with someone at a recent conference about how market makers make money, and said that they profit off the spread. I don't understand how this works. Example: Assume that the order book stands as follows. Bid/Ask spread stands at $14.78/$14.79; a 1 penny spread. If a market buy...

Yes, the vision is for Ritchie to be an Alternative Trading System (ATS) with unprecedented transparency.

Hey All, I'm building an exchange based on the GNU/Open-Source Way, and I could use some help. Anyone interested in contributing? I'm going to start by making a paper market for gold, and need help with: 1. ENGINE: Creating the order book of priority queues (heaps), bid/ask price ladders...

That was eye-opening!

Anyone else see the similarities between the housing market bubble of 2007 and the current student loan situation? - There is 1.2T (trillion) outstanding in student loan debt [1] - Defaults are rising sharply [2] - Jobs are going offshore, or to H1B's, making it difficult (if not impossible)...

The issues outlined in the Bloomberg letter were, collectively, a primary motivation for creating the Ritchie Stock Exchange. Instead of complaining about the issue (the SEC knew the ramifications before this was introduced) I propose a disruptive technology based on The Open Source Way...

Yes, rounding error can drive everyone cray-ZEE. That's why I'm using the Intel financial decimal library: https://software.intel.com/en-us/articles/intel-decimal-floating-point-math-library

@Lee- , outstanding comment!!! :thumbsup: Thank you. I'm building the order book, bid/ask ladders, and matching engine for Ritchie. This post is epic, and definitely changed my implementation plan. Could I impose upon you to be a beta tester?

Yeah, so, you're right about this. Another (licensed) friend just rang my bell and gave me the same lecture--but he was a little more "friendly" than you, if you know what I mean. I changed the language on the site. As time goes on, please let me know if you see anything else that might get me...

Hey All, What do you think of representing prices out past the penny? I'm setting up the data structures for the Ritchie Stock Exchange, and started wondering why we only represent prices down to the penny. If memory serves, this is a sensitive issue.. I recall a story of how profit to be made...

We're not trading NYSE stocks--that's out of reach right now. It's an Alternative Trading System (ATS). I envision trading less-regulated things like forex, futures, and the like. I also want to make it a place for innovation, where people like you and me can list ideas, and to connect...

Many a truth is said in jest.

This exchange is going to put the NYSE out of business. NO NON-DISPLAY FEES! These non-display fees infuriate me. This paywalling effectively prevents retail investors from trading algorithmically!

I got so frustrated by these fees, that I started building a new open-source exchange that's designed for algo trading... with NO NON-DISPLAY FEES. http://www.ritchiestockexchange.com/

WOW! Great post, Joan. Thank you. I have to read through this stuff. At first glance, I don't think that it's going to change much. The whole point is to paywall algorithmic trading, to keep those profits in the Inner Sanctum.

I think that it's ridiculous to assume that a U.S. Developer writes code that is 10x better than an offshore coder. I have worked with some brilliant offshore coders, and some not-so-brilliant U.S. developers. Here, I assume an apples-to-apples comparison. Two people with equivalent...

You may need to hire one crackerjack Sr. SE in the U.S. for USD200k+, but then hire ten offshore guys as USD20k to follow that person's instruction. Cost analysis: OPTION 1: Offshore with U.S.-based lead SE: $200,000: 1 @ 200k: 1 US-based Sr. Software Engineer (tech lead) $90,000: 6 @ 15k: Six...

According to PayScale, the price range for a Senior Software Engineer in India is Rs 413,206 - Rs 1,281,614 (USD $6202 = $20,158), depending on experience. The title of my post is an apples-to-apples comparison of entry-level salaries...