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A comment on High-Speed Trading Isn't About Efficiency—It's About Cheating. Parent comment

Re:High-Speed Trading Isn't About Efficiency—It's About Chea... by williamcotton on Sunday February 09, 2014 @09:04AM (#7205555)
Well, fortunately for you his journal isn't a quasi-governmental entity.

Unfortunately for your argument, our stock markets are. They wouldn't be remotely viable if they weren't supported and regulated by government. In exchange for the tax payer funded assistance is the social benefit of keeping the whole thing running.

Or would you like to test the viability of a market with no government oversight and no government enforcement of contracts?

[ Parent | on HN ]
Re:High-Speed Trading Isn't About Efficiency—It's About Chea... by yummyfajitas on Sunday February 09, 2014 @09:15AM (#7205583)
How would you build a newspaper or magazine without government enforcement of contracts and copyright?

If you want to claim an HFT shop is "quasi-governmental" because contracts are enforced, then basically every enterprise in the world is "quasi-governmental" (except for the black market).

[ Parent | on HN ]
Re:High-Speed Trading Isn't About Efficiency—It's About Chea... by williamcotton on Sunday February 09, 2014 @09:53AM (#7205696)
First, the NYSE gets way more government support and oversite than The Atlantic.

Second, copyright enforcement and free speech have defined limitations for the betterment of society.

[ Parent | on HN ]
Re:High-Speed Trading Isn't About Efficiency—It's About Chea... by yummyfajitas on Sunday February 09, 2014 @11:26AM (#7205943)
I don't follow your comparison. Shouldn't it be Atlantic :: Joe's HFT Shop and NYSE :: Copyright Office? You do know that HFTs don't work for NYSE, right?
[ Parent | on HN ]
Re:High-Speed Trading Isn't About Efficiency—It's About Chea... by vasilipupkin on Sunday February 09, 2014 @09:16AM (#7205586)
Of course, our markets are subject to many regulations. I don't see how it follows that we need more regulations, specifically banning or taxing HFT. HFT is already taxed, btw. Everyone pay SEC fees in the US on stock sales and stamp tax in the UK. Traders pay income taxes on their trading income. Common sense says, unless there is some clearly demonstrated harm to society from HFT, leave it alone ( subject to existing regulations)
[ Parent | on HN ]