Econintersect: Wall Street trading has always been a story of smart money and dumb money, profiting from asymmetry of information and “pulling the trigger” ahead of the next guy. Trading was like a modern day gunfight at OK Corral. A few decades ago people started looking at a better way to win gunfights than using six-shooters and bullets. Starting in the 1970s high tech wizards starting applying computer technology to create timing advantages over existing trading processes. That has progressed in the years since to the point that six guns have long since become useless, replaced by nuclear weapons. The history of the evolution of trading systems is told in this Documentary of the Week through the eyes of Haim Bodek, aka “The Algo Arms Dealer”. The film is directed by Marije Meerman.
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Hat tip to John O’Donnell, Online Trading Academy.