Saturday, October 27, 2012
Banging the Beehive, Spoofing, and the Boston Zapper
Three years ago things like high frequency trading, flash orders, and dark pools were in the news. People with gigantic sums of money, large amounts of information (mostly legal), and very fast computers were manipulating the market. So what else is new? I wrote a post on the subject quoting the infamous con artist, Canada Bill Williams who said, “Yeah, the game is crooked but it is the only game in town.” Well high frequency trading is back in the news. These practices have exotic new names like, Banging the Beehive, Spoofing, and the Boston Zapper. These names sound a lot like the names of classic cons, the badger game, the fiddle game, and the wire game (made famous in the movie, The Sting).