My message to hedge funds banking private equity and HFT operators

(Last Updated On: August 2, 2015)

My message to hedge funds banking private equity and HFT operators

After posting this

 

Another fine example of bad HFT shops

I got this response via email:

To correct you…ITG is headquartered in NYC…not the netherlands.

My mistake, I got this confused with IMC: https://quantlabs.net/blog/2015/07/imc-hft-shop-hires-ubs-dark-pool-exec/

My apologies there.

I am disappointed with the use of the term “friggin cheaters”. Perhaps read more about what ITG does as a business before making comments like this. While I understand your writing style (I have been reading you for a number of years)‎, it’s unfortunate that you choose to dramatize this way.

I don’t believe this will be the last SEC settlement  in the industry nor will ITG’s settlement remain the largest for long.

Being fined should be taken seriously. Any employee of a firm who thinks it is ok to be fined by a trading regular comes a from a world of arrogance. Not putting you in this camp but seriously, your firm got busted for a misdeed. A big fine of $20M. That to me is the same as cheating! That is why banking and hedge funds are the #1 hated industry according to public opinion.

You need to be reminded you also work in a multi million dollar or even multi billion dollar fund making oodles of money while us schmucks fight for the crumbs trying to make a living on scraps.

As said, HFT is a good technology but hated upon because cheaters use this  for their own gain at the expense of others esp. retail trader.

Have a good day sir…

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About caustic

Hi i there My name is Bryan Downing. I am part of a company called QuantLabs.Net This is specifically a company with a high profile blog about technology, trading, financial, investment, quant, etc. It posts things on how to do job interviews with large companies like Morgan Stanley, Bloomberg, Citibank, and IBM. It also posts different unique tips and tricks on Java, C++, or C programming. It posts about different techniques in learning about Matlab and building models or strategies. There is a lot here if you are into venturing into the financial world like quant or technical analysis. It also discusses the future generation of trading and programming Specialties: C++, Java, C#, Matlab, quant, models, strategies, technical analysis, linux, windows P.S. I have been known to be the worst typist. Do not be offended by it as I like to bang stuff out and put priorty of what I do over typing. Maybe one day I can get a full time copy editor to help out. Do note I prefer videos as they are much easier to produce so check out my many video at youtube.com/quantlabs