When saying you're sorry isn't enough. Case in point: ( From BI): Back on Monday, following the huge miss in the
Manufacturing ISM, in collaboration with Nanex, we exposed yet another instance
of blatant headline data frontrunning in "15 Milliseconds Of HFT Fame:
Watch Today's Early Leak Of The ISM Print" where we showed aggressive
trading amounting to tens of millions in notional contracts ahead of the 10am
release of the key economic indicator.
We assumed that just like every other lament about a market
that is front-run by those "who have the means", manipulated (by the
Fed of course - remember when that was just a conspiracy theory: good times)
and simply broken, it would disappear in the ether forever. After all: why
bring attention to facts when hopium is sufficient for the E-Trade baby to
retire rich and famous before it has hit 2.
We were delighted to learn that CNBC's Eamon Javers picked up the torch
and actually did some further investigating, which in turn led to an actual
admission out of Reuters that it "inadvertently" sent out the data to
"a select group of high frequency traders, many of whom immediately traded
on the information before it was available to the wider market, CNBC has
learned." Inadvertently? The humor just never stops.
Read more:
http://www.zerohedge.com/news/2013-06-05/reuters-admits-inadvertently-leaking-ism-data-15-milliseconds-early-hft-clients#ixzz2W1A013xS
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