News for hackers. Stuff that matters.

A comment on Staff Report on Algorithmic Trading in U.S. Capital Markets [pdf]. Parent comment

Re:Staff Report on Algorithmic Trading in U.S. Capital Marke... by smabie on Thursday September 03, 2020 @02:29AM (#24361308)
Before decimilization, the minimum increment was 1/16th, not 25 cents or 1/4th.
[ Parent | on HN ]
Re:Staff Report on Algorithmic Trading in U.S. Capital Marke... by PhantomGremlin on Thursday September 03, 2020 @06:20AM (#24362570)
Before decimilization, the minimum increment was 1/16th

Perhaps in theory, but not in practice. It took a $910 million class-action settlement to help change the collusion.

https://www.economist.com/finance-and-economics/1998/01/15/c...

Also in practice I remember the spreads being much wider, e.g. $56 bid, $57 offer.

[ Parent | on HN ]