{"id":190734,"date":"2009-10-30T16:02:00","date_gmt":"2009-10-30T21:02:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/10\/30\/someone-was-trying-to-steal-money\/"},"modified":"2009-10-30T16:02:00","modified_gmt":"2009-10-30T21:02:00","slug":"someone-was-trying-to-steal-money","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/10\/30\/someone-was-trying-to-steal-money\/","title":{"rendered":"Someone Was Trying to Steal Money"},"content":{"rendered":"<div style=\"border: 1px solid black; float: right; margin: 0px 10px; text-align: center; width: 410px;\"><a href=\"http:\/\/img8.imageshack.us\/img8\/6863\/ali21192100il6.jpg\"><img decoding=\"async\" border=\"0\" bordercolor=\"white\" src=\"http:\/\/img8.imageshack.us\/img8\/6863\/ali21192100il6.jpg\" width=\"400\" \/><\/a> <span style=\"font-style: italic;\">Tin Foil Hat Time!<\/span><\/div>\n<p>I don&#8217;t know if it was insider trading, or just the standard front-running that accompanies the high frequency trading out there, but the fact that the <a href=\"http:\/\/www.reuters.com\/article\/businessNews\/idUSTRE59T3BJ20091030?feedType=RSS&amp;feedName=businessNews\">New York Stock Exchange was unable to report trades for much of the morning<\/a> due to a flood of &#8220;erroneous&#8221; trades is a byproduct of some thing to do with the seamier side of the markets.<\/p>\n<p>My guesses:<\/p>\n<ul>\n<li>A software glitch on a machine doing computerized trading.<\/li>\n<li>Someone trying to capitalize on inside information using high speed trading (which, BTW, the NYSE does not do HFT, so it gets odd).<\/li>\n<li>A deliberate attempt to take down reporting so some sort of funny business could get done in the dark.<\/li>\n<\/ul>\n<p>In any case, a lot of people were trading blind as a result, which makes for much potential for mischief:<\/p>\n<blockquote style=\"color: #000099;\"><p>NYSE Euronext (NYX.N)(NYX.PA), the parent of the exchange, said the delays followed &#8220;an inordinate influx&#8221; of orders received as Friday&#8217;s session got under way. Later in the session, the company had to temporarily transfer quote processing to a backup system before the problem was resolved around noon.<\/p>\n<p>The exchange&#8217;s quote delays caused some tickers to be locked, but a NYSE spokesman said trades were continuous throughout.<\/p>\n<p>&#8220;It was an influx of erroneous orders which were caught before they were executed,&#8221; said Ray Pellecchia. He could not say where the orders came from.<\/p><\/blockquote>\n<p>Yeah, and it could just be an ordinary f%$#-up, and I&#8217;m being a conspiracy nut.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tin Foil Hat Time! I don&#8217;t know if it was insider trading, or just the standard front-running that accompanies the high frequency trading out there, but the fact that the New York Stock Exchange was unable to report trades for much of the morning due to a flood of &#8220;erroneous&#8221; trades is a byproduct of &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1060,1004,1015],"tags":[],"class_list":["post-190734","post","type-post","status-publish","format-standard","hentry","category-computer","category-finance","category-weird"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/190734"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=190734"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/190734\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=190734"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=190734"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=190734"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}