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】![](/moin_static193/solenoid/img/up.png) : 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】![](/moin_static193/solenoid/img/up.png) : 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】![](/moin_static193/solenoid/img/up.png) : 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】![](/moin_static193/solenoid/img/up.png) : 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】![](/moin_static193/solenoid/img/up.png) : 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】![](/moin_static193/solenoid/img/up.png) : 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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