Dark Pools, from Jim Sogi
I read Dark Pools recently, a great book about the development of the trading algorithms and computers that match buy and sell orders originally by Island, then ARCH then Nasdaq.
The author said that NYSE resisted them the whole way, and their computers and systems were patched together in a big mess, with patches upon patches.
Perhaps that is why today, when thing really counted, their systems crashed.
Not good at all.
Comments
Jim Davis on July 15, 2015 1:49 pm
I traded through that period.
I would not be surprised to learn that NYSE resisted tech improvements to maintain their EDGE of slow motion human trading.
That the effort failed, was not due to lack of trying.