Entries by AWP Administrator

Short-Lived Dark Pools

Felix Salmon cited my original post on employing one-second call markets as a counter to high-frequency trading. He ends his post by raising the following question for his readers (far more numerous than mine) to consider: Would this plan essentially give everybody in the market the advantages of being in a dark pool which only […]

Google Faculty Summit

I just returned from the Google Faculty Summit, a gathering of ~100 professors (mostly computer scientists) in Mountain View from universities across North America, and a few from South America as well. Google holds this event annually, as part of their university relations effort, fostering recruiting channels and research collaborations between the company and academia. […]

AAAI Asilomar Meeting

John Markoff’s NYT article “Scientists Worry Machines May Outsmart Man” touched off a mini-firestorm this week. The article refers to a meeting of AI scientists held at Asilomar (a conference center near Monterey) in February to discuss societal implications of future AI technology. The provocative headline may have had something to do with the reverberations […]

Cost/Benefit of High-Frequency Trading

On Marginal Revolution, Tyler Cowen discusses high-frequency trading and gets to the nub of the issue: The philosophical question is why it might possibly be beneficial to have market prices adjust within five seconds rather than within fifteen. One second rather than five? 0.25 rather than one? Of course, it’s an economic question, not just […]

Countering High-Frequency Trading

The recent NYT article by Charles Duhigg on high-frequency trading (HFT) has set off a flurry of argument about the benefits and threats of this activity to financial trading systems. The revelation that some systems provide advance information (exposing incoming orders 30-500 milliseconds before they are submitted to the general market) to select HFT systems […]