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Mysterious High Frequency Algo Placed And Cancelled 4% Of All Quote Traffic Last Week High frequency traders are desperate to get ahead. Their latest tactic? Buying huge quantities of shares only to cancel the orders milliseconds later. According to a CNBC report, an algorithm from a single, unknown high frequency trader was responsible for 4% of all quote traffic last week. But the algo didn’t actually execute any of the trades that it ordered, cancelling all of them fractions of a second after they’d been placed. All of the trades were routed from Nasdaq. SOURCE: compliancex.

Mysterious High Frequency Algo Placed And Cancelled 4% Of All Quote Traffic Last Week

High frequency traders are desperate to get ahead. Their latest tactic? Buying huge quantities of shares only to cancel the orders milliseconds later.

According to a CNBC report, an algorithm from a single, unknown high frequency trader was responsible for 4% of all quote traffic last week. But the algo didn’t actually execute any of the trades that it ordered, cancelling all of them fractions of a second after they’d been placed. All of the trades were routed from Nasdaq.

SOURCE: compliancex.