Wall Street’s Big Banks Are Waging a Technological Arms Race

Re:Wall Street’s Big Banks Are Waging a Technological Arms Race by feiofh398r39rty on Thursday April 05, 2018 @10:50PM (#16770553)

>The idea that a tier one investment bank and a small trader should be held to the same "rules" is so wondrously silly... it's hard to describe but there ought to be a word for it.

Just like the idea that the aristocracy should be accountable to the same laws as commoners, right?

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Re:Wall Street’s Big Banks Are Waging a Technological Arms Race by dx034 on Friday April 06, 2018 @02:10AM (#16771246)

No but if GS asks a counterparty (with whom they have billions in other contracts) to cancel contracts as a result of a system error, the counterparty will probably agree (if they don't lose as a result) knowing that GS will next time do the same. With a small party, this could just be an attempt to undo a bad deal.

I think what the poster meant is that deals are just contracts and can be amended if both parties agree. For large banks with longstanding relationships, that is naturally much easier than for a trader that no one knows.

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Re:Wall Street’s Big Banks Are Waging a Technological Arms Race by 9nWvAVb5 on Friday April 06, 2018 @08:37AM (#16772705)

In its majestic equality, the law forbids rich and poor alike to sleep under bridges, beg in the streets, and steal loaves of bread.

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