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Yeah, actually, it does.

The SEC already had enough information that "would have allowed" them to figure out Madoff. They even had direct testimony. Lack of data was never the issue - lack of will was the issue - and that's not something piling up petabytes of data can solve.

Have to really disagree with this assertion. Such a system would have done nothing to prevent eg Madoff. Storing data doesn't solve anything, unless there is a regulatory structure in place to actually use the data. There is nothing in the proposal that would have caught, eg, Madoff sooner...

It's not "incomprehensible" at all, not by 2012 standards.

It's not the idea that's a "scam" - it's the claimed costs. Those are completely out of line, and IMO the poster has it right, the SEC is looking at this as a budget-padder.

That's ridiculous. Where did the two extra zeros come from? It's not THAT much data to be shuffling around.

It is important to separate out the issues endemic to prop trading, and those specific to WTS. Most who try their hand at prop trading will fail, many losing everything - that is the nature of prop trading. WTS itself is about as clean and competent as you can get in this game. Note that...

So an OTM bull spread and an OTM bear spread, centered around +/5%. Seems backwards to me - capturing the occasional small move and missing out on the occasional big move - but if it works for ya, it works for ya.

Which timestamp? There is a timestamp when an order hits the edge of the exchange's infrastructure. There is a timestamp when the order hits the matching engine. There is a timestamp when the order exits the matching engine (ie, book update or trade event). The differential between the...

They live for "zero" time - when they get to the matching engine, they either generate a trade event, or they're killed and never get into the book. That's the issue. The proposal doesn't level the playing field for "all market participants", it gives an unfair advantage to participants who...

Those are supposed to be caught by pre-trade risk checks and should not make it to the matching engine/book.

You're suggesting eliminating FOK orders? The only fair way to implement a "minimum live time" is to pick a very long time frame - for example, any order placed must live through that day's close. That would do much much more to balance the playing field between traders and investors. That...

Sure, now you care. You mocked the textile workers when their jobs were taken, and happily bought up cheap tshirts made by Bangladeshi child labor. You scoffed at the UAW and other union schmucks who did a marvelous job holding onto their jobs far longer than anyone could have imagined...

I believe Acquire/Newsedge Has 18 months of historical news, but I don't know if access comes as part of the standard packages.

I saw it. Like a weathervane in a hurricane, you covered every possible direction over the course of the weekend. Which furthers my original post - you should downsize your position to 0. Cheers.

What are you trying to accomplish - predict the price of the option in a one-week window?

Two days ago you were saying... "However since it seems market is very volatile, it makes it harder to perdict how good the hedge will hold, so I cut position size by 5% on Friday. The question is if I should become more aggressive on Monday and cut an additional 20 % in size." Now you...

It's a nice thought. Good luck with the execution, though.

If your strategy doesn't work on an EOD basis, then you're front-running someone, and aren't in any way shape or form "investing". Daytraders are no different than HFT, they just have slower technology. That, and they whine a lot more.

If you really wanted the stock, you could have just hit the offer. If you're worried about the one penny difference, then you're complaining that HFT/internalization/etc is doing to you what you're trying to do to (even) slower retail.