Parisian Family Office, CEO. Began Wall Street, 82. Founded investment firm, CHIPPEWA PARTNERS, Native American Advisors. Member, White Earth Chippewa Tribe. Was NYSE/FINRA arb. Conservative, raised on Native reservations. Pureblood, clot-shot free. In a world elevated on a tech-driven dopamine binge, Dean trades from Ghost Ranch, on the Yellowstone River in MT, TN farm, Pamelot or CASA TULE', his winter camp in Los Cabos, Mexico. Always been, will always be, an optimist. Chase your dreams!
Monday, May 10, 2010
I offer three answers for them. One, stop trading in sub-penney increments.
Two, make the best bid-best ask show across every exchange. If we can put men on the moon and allow Goldman to rule the financial universe surely we can come up with the technology to have one central algo to show best bid, best offer from every tom, dick and harry exchange out there.
Three, eliminate co-location trading and get a handle on HFT. (The SEC doesnt' have a clue)
Today, the lies coming from the NYSE are of such magnitude that Congress may actually believe them. They haven't mentioned how the NYSE has been hailing their “circuit breaker” slow model but is about to open a 400,000 square foot data center in Mahwah, NJ that caters to HFT, High Frequency Trading for those of you in Mandaree.
There is a clear lack of a common set of rules that apply to everyone. Simple.