Re:More challenging projects every programmer should try
by sbeller on Wednesday December 23, 2020 @04:50PM
(#25522638)
> (in fact, it extracts that value from non-HFT traders, so even those are shafted here).
in return HFT provides liquidity (and by that smaller spreads) to the market, I would think.
If you ever bought or sold a stock with a market order, you profited from the work the HFT is doing.
Re:More challenging projects every programmer should try
by logifail on Tuesday December 22, 2020 @01:13PM
(#25509290)
> it's a work that does no useful work in any meaningful sense, but serves to make some already fabulously rich people even richer
Isn't Robinhood able to offer free trading to customers solely because they sell their order flow on to, among others, HFT firms?[0]
[0] https://www.cnbc.com/2020/08/13/how-robinhood-makes-money-on...
Re:More challenging projects every programmer should try
by MockObject on Thursday December 24, 2020 @12:43PM
(#25529596)
The abstraction of "society", that is presumably supposed to benefit from everyone's job, is hiding the crucial details.
His job facilitates trades between people who want to trade with each other. Since they are part of society, our society benefits from his work.
Evidently it's doing more than "make some already fabulously rich people even richer", because it's paying salaries for some programmers, as well.
My point is that I'm curious regarding how the people who work in these things feel about their job. Do they think they're doing a right thing? Do they "own it" to themselves that they don't care as long as they make money? Do they not think about it too much?