16 Dec

Flash boy Binck ignores law of holes

Somehow Binck reminds me of Van der Moolen in their last months. A listed company and a board which seems to have lost touch with reality. That’s nice when writing a kind of financial blog. Expected a quiet December, but voila : Binck. Time to get the popcorn. SOR functioning poorly Contender DeGiro showed credible...
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15 Dec

Former Flow Trader pleads guilty in code theft

It’s currently out of fashion, but last years papers were filled with reports of traders getting busted stealing their employers secret software code. We’ve seen the alleged code thief at Goldman Sachs,  Aleynikov. At Flow Traders USA we’ve learned Jason Vuu has been e-mailing himself several strategies and computer code. Not too smart. Vuu tried to...
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10 Dec

DeGiro trashes TOM

Online broker DeGiro surprised everybody today. On national television they came with the news TOM’s smart order router (SOR) doesn’t work very well. In fact, the guaranteed “best execution” proved to be fake. To make things worse, apparently a HFT firm has seen enough time to benefit from the trades. Research paper The Dutch pdf can...
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25 Nov

Churning and Burning

Just ran into this highly entertaining weblog, Churning and Burning. A daytrader at a New York prop firm lost a few bucks in trading some OTC/Pink sheets stocks. Nothing new here, except for the fact he sure knows how to write. The hilarious MS Paint graphics are the icing on the cake. Although I do know...
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23 Nov

Pieterse left Optiver

Didn’t see it coming when the news broke last Wednesday. Edwin van der Kruk, nicknamed Joop – since he looks like television mogul Joop van den Ende, left Optiver last month. Even bigger news is that Hans Pieterse left the building as well (although he will still be on the payroll for a few months). Joop...
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