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Dave Lauer is a former-high frequency trader for firms such as Citadel and Allston Trading. He’s worked specifically in various areas of the HFT pipeline, including; research and modelling, building hardware, and programming and operating strategies—which are measured in millionths of a second (or microseconds). Following the Flash Crash, Dave left his role as a trader (for various reasons we discuss during this episode) and now, as a partner of KOR Group, consults to institutional managers on market structure and best execution. Dave was also featured in the VPRO documentary, The Wall Street Code, along with other Chat With Traders guests; Haim Bodek, Eric Hunsader, and Blair Hull. -- Sponsored by TechnicianApp.com: Chart, analyze, and trade from anywhere with Technician’s award-winning app—for mobile, tablet, and desktop. Learn more and sign up for free!
A big guest on the podcast this week—a man who for many won’t need any introduction, he is; Eric Scott Hunsader. Eric started out as an algorithmic trader in the early 80’s, soon after became a self-taught programmer, and since then he’s written many software applications for financial data. But today, Eric is the founder of Nanex, a whole market streaming data feed, which transmits 20 billion data points every day. Well-known for speaking out against the many issues that surround high frequency trading, Eric will tell you straight; HFT firms are stealing money, exchanges have rigged the market, and the regulators that allow this type of activity to continue are corrupt individuals. Additionally we talk about quote stuffing, mini-flash crashes that occur on a daily basis, and why Eric recently received a $750,000 whistle-blower award from the SEC.
Hot Topics in Tech: A Massive Selloff. Interesting data and tech insights from the recent pronounced selloff in the market. "Here's the advantage high-frequency trading firms have over everyone else," says Eric Hunsader, founder of Nanex LLC, the U.S. financial markets consultancy. BATS gets regulatory nod for second U.S. options exchange. BATS files client suspension rule to expedite action again HFT spoofers. The Inbox: Listener questions and comments Question from Dariush - Question for trading tech talk radio program. Hello mark. I heard on one of your recent programs that there were system issues preventing OPRA and other platforms from adopting the VIX weekly futures and upcoming options. Do you have any insight into why these specific products would cause issues for technology vendors and platforms? Thank you for your time.
Hot Topics in Tech: A Massive Selloff. Interesting data and tech insights from the recent pronounced selloff in the market. "Here's the advantage high-frequency trading firms have over everyone else," says Eric Hunsader, founder of Nanex LLC, the U.S. financial markets consultancy. BATS gets regulatory nod for second U.S. options exchange. BATS files client suspension rule to expedite action again HFT spoofers. The Inbox: Listener questions and comments Question from Dariush - Question for trading tech talk radio program. Hello mark. I heard on one of your recent programs that there were system issues preventing OPRA and other platforms from adopting the VIX weekly futures and upcoming options. Do you have any insight into why these specific products would cause issues for technology vendors and platforms? Thank you for your time.