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A comment on Understanding Jane Street. Parent comment

Re:Understanding Jane Street by FabHK on Tuesday August 02, 2022 @08:41AM (#32317765)
> and a healthy market should reflect that.

You are begging the question. Why should a market reflect that? Why is that preferable to a daily auction (throw in a stochastic cut-off time to thwart HFT even more)?

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Re:Understanding Jane Street by SnowHill9902 on Tuesday August 02, 2022 @09:01AM (#32317922)
Because you can’t make sure that all auctions happen at the same time. Consequently, news will disproportionately affect stocks having an earlier auction. That’s just one reason I’m mentioning.
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