Mainstream journalists usually miss the ball when reporting on financial trading. In France this is probably even worse. Time for a piece of infotainment from the French national television on those evil high frequency traders. Tune in for Cash Investigation.
Some of the most notorious traders manipulating the world in a Goldman Sachs-like fashion are based in good old Amsterdam. Right on one of our pittoresque canals we find Market Wizards. Filmed with undercover camera and faces blurred – boy, this looks suspicious. A financial Peter R de Vries from France.
Honestly, those traders at Market Wizards are as far from high frequency trading as one can get. Old school trading with their own capital. Kept up with the automated trading techniques, but not a financial powerhouse trading at the speed of light. Good reputation for smart trades and organizing the yearly poker tournament for charity.
The modest incident one of their traders has been fined for, dates from the stone age. Six years ago without any use of automated systems.
If Market Wizards is into HFT, I’m the Washington Post. See from min 52.20 the item on Market Wizards. Followed by an interview with Remco Lenterman. The former GS banker working for IMC and part of the lobby group FIA EPTA.
And yes, everything is in French: