HFT Pays: CEO Of Firm Selling His NY Mansion For $114 Million

[OnClose]

http://www.zerohedge.com/news/2013-...ity-volume-selling-his-ny-mansion-114-million

 

[Capital]

I thought hft was going way down in aggregate profits, as margins are diminishing rapidly due to very high technological costs + shrinking revenues.

http://www.nytimes.com/interactive/...g-US-High-Frequency-Trading.html?ref=business

 

[marketcross]

HFT machines trading with each other. illusions of paper profit.
pot of cash is shrinking .less money in the pot to take. thinning volume if you haven't notice. traders and HFT need 'high' volume to trade high frequency.


QUOTE]Quote from OnClose:

http://www.zerohedge.com/news/2013-...ity-volume-selling-his-ny-mansion-114-million [/QUOTE]

 

[marketcross]

only morons buy 100 milllion mansions, he should have just buy some 5 million of cash USD and burn it in a bon fire..than waste in 100 million mansion.

Quote from OnClose:

http://www.zerohedge.com/news/2013-...ity-volume-selling-his-ny-mansion-114-million

 

[Capital]

Quote from marketcross:

only morons buy 100 milllion mansions, he should have just buy some 5 million of cash USD and burn it in a bon fire..than waste in 100 million mansion.

Isn't he providing liquidity in the housing market?

 

[Eyez]

what a bunch of haters

 

[ogarbitrage]

What a misleading article. Vinny has been in finance for decades, and all ZH says about it is, "Although, in all fairness to Viola, he did serve as former Chairman of the NY Merc."

He was Chairman (and major shareholder) of Nymex when they were establishing the Dubai Merc and before they went public. He made the vast majority of his fortune from Nymex, not from Virtu.

Virtu, in its present form, was born out of a merger with Madison Tyler Trading 3-4 years ago.