NYSE says Electronic Trading Black Box for plunge

these boxes are getting pretty smart...

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Quote from Trendytrader:

The holy Iraqi Stock Exchange in Baghdad has trading better controls than the f'king markets here :)

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LOL yeah we definitely need more HUMAN TOUCH rather than machine control

that's for sure
 
I trade all the major European exchanges and none of this US bullshit happens there!

Not in Paris.
Not in London.
Not on Xetra.
Not in Madrid.
Not in Milan.
Not on Chi-X.
Not on OMX.
Not in Oslo.

Yes, they're all electronic. They just don't have these leeches like in the US fucking up the market every day!
 
Quote from risktaker:

I trade all the major European exchanges and none of this US bullshit happens there!

Not in Paris.
Not in London.
Not on Xetra.
Not in Madrid.
Not in Milan.
Not on Chi-X.
Not on OMX.
Not in Oslo.

Yes, they're all electronic. They just don't have these leeches like in the US fucking up the market every day!
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Utter rubbish - European markets have had giant intraday swings on fat fingers, options expiry, 9/11 liquidity collapse etc.
 
Quote from Angrycat:

Totally agree. But if your goddamn black box is too stupid to know when to stop fucking selling, then you should eat the loss. Why should their trades be busted? Why are good traders (and good black box makers, for that matter - the good ones know when to stop) have to subsidize the idiots?

That's the part that pisses me off. Sure...this was an uncomfortable day (although, admit it - we all missed the excitement during the lull of the last year), but the market will adjust. Subsidizing morons pisses me off.
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100% agreed. The market rules for when to bust things have been on the books for a long time but I totally agree. If you can stop your fucking algo then, well, that's the cost of doing business. Tweak it for next time.
 
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