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Just saw it on the nightly business report.
And the trades are made by algorythms(sp?) not humans.
They locate their trading center as close to the net entry point as possible in NYC so they have a 300 msec edge on Wall Street.
these puters are the ones driving our market now.
I have to wonder if they call it Skynet?
And only 1% of traders are generating 3/4 of the transactions on Wall street.
Yep those are investors and deserve tax breaks.
You don't really own the shares you think you own | MetaFilterAll the stocks and bonds you think you own are actually owned by a company you've probably never heard of, a company owned by the same people who own the US Federal Reserve.
Originally paper stocks certificates were issued as evidence of ownership by companies to investors purchasing shares. But as trading volume exploded in the late 60's this manual system didn't scale. As an increasing number of trades failed due to paper processing backlogs The New York Stock Exchange took the unprecedented steps of closing on Wednesdays in 1968.
In response to the crisis The Central Certificate Service (CCS) was created to electronically settle trades and eliminate the need for share certificates. Although intended as a temporary measure, it is still with us.
Financial assets purchased today aren't registered in your name; rather they are held in what's known as street name. Regardless of the assets purchased or the broker used, this name is almost always a successor of CCS, namely The Depository Trust & Clearing Corporation (DTC), or some anomalous sounding variant of "Cede & Co".
Holding assets in excess of $40T (yes, trillion), DTC is the single largest private trust in the world - in fact the largest company you've probably never heard of.
And only 1% of traders are generating 3/4 of the transactions on Wall street.
Yep those are investors and deserve tax breaks.
Yes, these are those computers that trade in large volumes when a stock goes up or down a fraction of a cent.
In my opinion that crap needs to be shut down. That is not real investment.
And only 1% of traders are generating 3/4 of the transactions on Wall street.
Yep those are investors and deserve tax breaks.
And all those transactions might involve only one or two cents each.