Today’s ECB meeting has the attention of every market participant, except Knight Capital. Doing nothing is not an option according to the press and recent market reaction. We’ll see, but my guess is expectations have grown out of proportion. You can watch the live webcast here.
The Knight Capital Debacle is classic, funny, sad, ironic, all sorts of adjectives but it still makes me chuckle, that evil sort of chuckle… Knowing how easy it is to make a simple coding mistake or even imagine sabotage, a disgruntled employee, for example. I hope to hear more about this story. ZH does a good job as usual, exagerating here. Knight doesn’t do “HFT”… These were Slow Frequency Trades (SFT) at 20-30 per second, for 30 minutes, and that’s the crazy bit. 30 minutes.
In any case, it should be an interesting day, good trading.
- EURUSD (1.2284) + 0.47%
- Gold Futures (GC) still holding over 1600 ($1602.60) – 0.07%
- Oil Futures(CL) + 0.28%
- S&P Futures (ES) + 0.29%
- Europe: CAC40 + 0.11% FTSE + 0.37%
- Asia: (NKD) – 0.29%
- Corn Futures (ZC) – 0.22%