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Dark Pools is a followup to his New York Times bestselling, awardwinning The Quants (2010). Their fiberoptic cables circle the Earth, linking all financial markets at everhigher speeds in the global arms race of the Algo Wars. These cables air jordan 11 legend blue columbia are now being superseded by evenfaster microwave stations relaying HFT orders and trades 3 milliseconds faster than the fastest cables. Patterson reports that the Tokyo Stock Exchange's Arrowhead HFT platform launched in 2010 now makes up half its volume. The Singapore Exchange (SGX) launched its Reach platform in 2011, billed as the fastest matching engine, with order speeds below 90 microseconds, and aggressively courting all the highspeed traders now flocking to Asia. India's National Stock Exchange back in 2009 made 35 colocation servers available which were snapped up by Goldman Sachs, Citigroup and Morgan Stanley, leaving local Indian firms in the dust. The BATS ChiEx Europe now handles 25% of all stock trading in Air Jordan 11 Low Bred For Sale Europe. firms trying to capture trading patterns in real time. London's Fixnetix claimed that it had the world's fastest microchip that processes a trade in 740 nanoseconds.
Patterson reports on the SEC's wellknown dilemma: outgunned and outspent, falling further behind since the May 2010 Flash Crash. The SEC plans to build a Cheap Jordan Shoes giant machine of its own: the Consolidated Audit Trail to capture Cheap Jordans every single order placed into the stock market: trades, cancelled orders, etc., in real time in theory. Patterson states that insiders know the terrifying truth: the market by the late 2000s had descended into one vast pool of darkness, as the HFT gunslingers and their new partners the electronic exchanges changed the game and took over the NYSE and Nasdaq, which became forprofit and went public.
A few whistleblowers joined Arnuk and Saluzzi, notable Thomas Peterffy, founder of Interactive Brokers and Air Jordan Timber Hill, one of the earliest users of Island, an iconic pioneer electronic platform, along with Instinet. In late 2010, Peterffy told the World Federation of Exchanges annual meeting in Paris: "In the last 20 years came computers, electronic communications, electronic exchanges, dark pools, flash orders, multiple exchanges, alternative trading venues, direct access brokers, OTC derivatives, highfrequency traders, Reg NMS in the USA and what we have today is a complete mess Air Jordan 10 Bulls Over Broadway . to the public, the financial markets seem like a casino, except that the casino is more transparent and easier to understand."
How could so many computer geniuses like Peterffy, Joshua Levine, the brain behind Island, Jerry Putnam, founder of Archipeligo all trying to democratize Wall Street, have been so blind to the unintended cheap jordan future consequences? These are cultural questions, involving academia's fascination with computers and information technology combined with government's science and technology policies and their recognition of all this along with strategic satellite systems and artificial air jordan xx9intelligence as a new source of power and wealth. Taxpayers' money was funneled to university grants, the Pentagon, DARPA, and cheap air jordan 4 shoes to the creation of the internet.