Timestamp Fraud

[whipsaw]

The animation also shows something that many aren't aware of: the original timestamp gets stripped, and replaced with a fresh timestamp when the SIP transmits it to a subscriber! Watch the timestamp in the box get stripped when it enters, and replaced when it leaves, the circle labeled "SIP Tape A". Keeping original timestamps is crucial for constructing audit trails, or for detecting system delays, which is why it's integral to this solution which allows HFT and non-HFT to coexist.

 

Nanex 04-Apr-2014 ~ Direct vs SIP Data Feed

 

http://www.zerohedge.com/news/2014-04-19/timestamp-fraud-rigged-market-explained-one-simple-animation

 

 

Während die HFTs immer stärker in die Mangel genommen werden, profitiert das Alternative Trading System/ MTF IEX immer stärkert von der negativen Publicity der Flash Boys

 

EX is the first equity trading venue owned exclusively by a consortium of buy-side investors, including mutual funds, hedge funds, and family offices. Dedicated to institutionalizing fairness in the markets, IEX will provide a more balanced marketplace via simplified market structure design and cutting-edge technology. IEX offers a fair-access platform to any qualified broker dealer. IEX is driven by a team of cross-industry experts with backgrounds spanning market venues, electronic trading, and broker-dealers.

 

Most importantly, the (patent pending) IEX POP architecture introduces 350 microseconds of latency for any order action taken by a participant (enter, cancel, revise an order), which ensures the IEX Matching Engine has sufficient time to receive and process changes to the NBBO before a fast participant can receive and act upon the change on IEX

 

Time for change - ich bin überzeugt, das wir in Zukunft noch viel von IEX hören werden . Dann hoffentlich auch in der deutschen Finanzpresse.

 

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Reg NMS/ Regulation National Market System (@wikipedia)

 

Übersicht Alternative Trading Systems

 

RegNMS_atSEC.pdf