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518 points bwfan123 | 1 comments | | HN request time: 0.205s | source
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balderdash ◴[] No.44483756[source]
Having formerly worked for an NYSE Specialist firm the role of market making is incredibly important, but many large-scale HFTs today operate in ways that either stretch the legal boundaries or exploit regulatory gaps. Many practices arguably amount to market manipulation in spirit, even if technically legal. Candidly, the regulators are either too lazy, stupid, ill equipped or uninterested to do anything about it.
replies(8): >>44483821 #>>44483846 #>>44483885 #>>44484251 #>>44484632 #>>44484834 #>>44485682 #>>44492233 #
1. throwaway2037 ◴[] No.44485682[source]
I hear this defence of NYSE specialists now and again. Why do other markets, including the NASDAQ, not require them? It makes little sense to me in 2025 where the vast majority of trading is electronic.