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Quotes tagged “Notes to self”
In order to identify this stealthy algorithmic movement, competing banks hire other mathematicians to write other algorithms that monitor trading and look for clues of these bigger trades and trends. The algorithms actually shoot out little trades, much like radar, in order to measure the response of the market and then infer if there are any big movements going on. The algorithms are, in turn, on the lookout for these little probes and attempt to run additional countermoves and fakes. The algorithmic dance—what is known as black box trading—accounts for over 70 percent of Wall Street trading activity today. ”
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