Thursday, July 30, 2009

NYSE to spend $500 million on high speed trading

$500 million and the location is a closely guarded secret??? And "project Alpha" is critical to the NYSE's future??

The NYSE has largely kept its facility under wraps, even keeping the exact location a closely guarded secret. Executives recently made oblique references to the company's plans, describing them as "critical" to the NYSE's future. When they discuss second-quarter earnings, set for release before the opening bell Thursday, those plans are likely to be addressed in more detail.

HFT or knowing what tomorrow's stock prices will be today.

I'll stick to the latter!

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