Re:The $440M software error at Knight Capital (2019)
by spacemanmatt on Monday May 02, 2022 @05:23PM
(#31241131)
> but we can’t really drop N from the acronym without a replacement
Huh, yeah. That would be quite a GAAF. Gotta come up with something before Netflix is forced out of the FAANG club.
Re:The $440M software error at Knight Capital (2019)
by snotrockets on Monday May 02, 2022 @06:37PM
(#31241992)
I’ve seen MAAM being used.
Re:The $440M software error at Knight Capital (2019)
by sjtindell on Monday May 02, 2022 @08:14PM
(#31242764)
When FB took it's huge hit I saw people using MANGA. But again if we drop the N...not great.
Re:The $440M software error at Knight Capital (2019)
by astrange on Tuesday May 03, 2022 @03:50AM
(#31245789)
GAMMA works if you add back Microsoft, who are doing better lately.
Re:The $440M software error at Knight Capital (2019)
by selimthegrim on Monday May 02, 2022 @11:22PM
(#31244155)
MANAMA is fine, you just get MAAMA in case of Netflix sinking.
Re:The $440M software error at Knight Capital (2019)
by usrn on Monday May 02, 2022 @09:52PM
(#31243482)
FAGMAN is still my favorite.
Re:The $440M software error at Knight Capital (2019)
by LilBytes on Tuesday May 03, 2022 @01:48AM
(#31245076)
Typical edge lord naming from r/wallstreet bets, thats where this originated from wasn't it?
Same as FAANG to FAAG, shocking but a touch funny.
Re:The $440M software error at Knight Capital (2019)
by 22SAS on Monday May 02, 2022 @05:55PM
(#31241476)
Tbf, most of us don't really prefer to be called as HFT's but as Market Makers. Different name, but we still use the same ultra low latency techniques to get the job done.
Re:The $440M software error at Knight Capital (2019)
by seoaeu on Monday May 02, 2022 @09:38PM
(#31243353)
“The job” being trading securities at high frequencies?
Re:The $440M software error at Knight Capital (2019)
by kevstev on Tuesday May 03, 2022 @09:55AM
(#31248339)
I worked in option AMM when the term HFT started getting thrown around in some articles, and was discussed as this uber secret hush hush thing, and I was interested. I was then astonished when I kept reading and found out that it was what I had been doing- it was just another name for market making really...
Re:The $440M software error at Knight Capital (2019)
by 22SAS on Tuesday May 03, 2022 @11:22AM
(#31249432)
Yep. At the end it is market making, in markets where speed is of the essence to be competitive. Funny thing is, now firms in the industry want to be termed as Market Makers rather than HFT since the media has turned HFT into a very negative term.
Re:The $440M software error at Knight Capital (2019)
by caffeine on Tuesday May 03, 2022 @02:10PM
(#31251501)
Back when Flash Boys came out, we all started calling each other Flash Boys. There was then a serious proposal to rename one of the strategies (the hedger, for added irony) Grandma Annihilator 3000.
When the KCG thing came out, one of the new grads was renamed “Power Peg” for a few weeks.
I miss the 2010s. It was a lot more fun when people leaned into stuff instead of being scared all the time.
Re:The $440M software error at Knight Capital (2019)
by 22SAS on Tuesday May 03, 2022 @02:21PM
(#31251643)
Hahaha, that is pretty cool. I don't think we'd do something like that, especially the "Power Peg" one, at my firm. Although, it'd be fun.
> I miss the 2010s
Ah, so true. I was in college and grad school during that period, would have been more fun to work in the industry back then.
Now those firms are all in a completely competitive industry squeezing each other for basis points.
Meanwhile the definition of a FAANG is that it has an effective monopoly, and these companies are taking in way more money than the HFT industry. (Netflix is losing its monopoly but we can’t really drop N from the acronym without a replacement..)