g*****u
发帖数: 14294 | |
f**********r
发帖数: 2137 | 2 institutional traders在路径上也会产生很多噪音的，比如搞hft的会在distribution
时买，或accumulation时卖，因为那时流动性都特别好
【在 g*****u 的大作中提到】
: http://www.investopedia.com/articles/trading/08/institutional-effect.asp
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g*****u
发帖数: 14294 | 3 我一直的问题就是HFT这样不是和Market Maker/Specialist争利吗？
MM可以搞HFT啊，还有特权。
distribution
【在 f**********r 的大作中提到】
: institutional traders在路径上也会产生很多噪音的，比如搞hft的会在distribution
: 时买，或accumulation时卖，因为那时流动性都特别好
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f**********r
发帖数: 2137 | 4 they are different, MM may be low frequency
【在 g*****u 的大作中提到】
: 我一直的问题就是HFT这样不是和Market Maker/Specialist争利吗？
: MM可以搞HFT啊，还有特权。
:
: distribution
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M****7
发帖数: 324 | |
g*****u
发帖数: 14294 | 6 The "MM" I was referring to is Market Maker/Specialist, not Market
Manipulator.
Market Maker/Specialist cannot possibly be low frequency. Or am I missing something here?
【在 f**********r 的大作中提到】
: they are different, MM may be low frequency
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l*******r
发帖数: 3799 | |
f**********r
发帖数: 2137 | 8 yes, mm is market maker
when you are quoting both bid/ask price in order to profit from the spread,
you are hft, and faster machines make more trades with tighter spreads.
but sometimes when there is buy/sell imbalance, you need to take the other
side of the trade, that may not be hft
something here?
【在 g*****u 的大作中提到】
: The "MM" I was referring to is Market Maker/Specialist, not Market
: Manipulator.
: Market Maker/Specialist cannot possibly be low frequency. Or am I missing something here?
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J**********y
发帖数: 1891 | 9 What's distribution
时，或accumulation?
distribution
【在 f**********r 的大作中提到】
: institutional traders在路径上也会产生很多噪音的，比如搞hft的会在distribution
: 时买，或accumulation时卖，因为那时流动性都特别好
|
