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Re:Goldman Sachs is spending $100M to shave milliseconds off... by jiggawatts on Friday August 02, 2019 @01:15AM (#20590784)
This. A million times this. All possible arguments for price discovery are totally invalidated by regular market closures.

Conversely, if sub-second resolution is somehow "a good", then by extension sub-millisecond price discovery is "even better". There are some insane people that state this kind of gibberish with a straight face.

If millisecond are good, then surely microseconds are even better! Next... nanosecond resolution price discovery for the uuuuuultimate liquidity.

Re:Goldman Sachs is spending $100M to shave milliseconds off... by arugulum on Friday August 02, 2019 @03:31AM (#20591215)
>Conversely, if sub-second resolution is somehow "a good", then by extension sub-millisecond price discovery is "even better". There are some insane people that state this kind of gibberish with a straight face.

if sub-second Internet latency is somehow "a good", then by extension sub-millisecond Internet latency is "even better". There are some insane people that state this kind of gibberish with a straight face.

If millisecond are good, then surely microseconds are even better! Next... nanosecond resolution Internet latency for the uuuuuultimate speed of information.

Surely this is crazy talk!

Re:Goldman Sachs is spending $100M to shave milliseconds off... by gpderetta on Friday August 02, 2019 @08:58AM (#20592587)
Would you be happy if regulators mandated that airplane control systems can only sample their input at most every second?

HFT systems look a lot like feedback driven control loops. Mandating a minimum resolution would be ridiculous.

Re:Goldman Sachs is spending $100M to shave milliseconds off... by dredmorbius on Friday August 02, 2019 @01:09PM (#20594603)
If what you're sampling and responding to is noise, then yes, it's pointless.

If what you're sampling and responding to is noise, and the responses themselves generate self-perpetuating expanding feedbacks, it's worse than useless: it's actively harmful.

Re:Goldman Sachs is spending $100M to shave milliseconds off... by growse on Friday August 02, 2019 @09:01AM (#20592605)
> This. A million times this. All possible arguments for price discovery are totally invalidated by regular market closures.

As has been pointed out elsewhere, the really big markets are OTC.

> If millisecond are good, then surely microseconds are even better! Next... nanosecond resolution price discovery for the uuuuuultimate liquidity.

If I go to market to get a price, I'd quite like that price "now", not at some arbitrary point in the future. Increasing the resolution reduces the amount of time I have to wait.

Re:Goldman Sachs is spending $100M to shave milliseconds off... by bgdnyxbjx on Friday August 02, 2019 @02:33AM (#20591015)
They’ll only stop when they get to Planck time resolution price discovery
Re:Goldman Sachs is spending $100M to shave milliseconds off... by penagwin on Friday August 02, 2019 @12:56PM (#20594483)
If they achieved Plank Time Resolution I don't think they would need to be in the finance industry to make money :P