{"id":5523,"date":"2012-09-19T04:58:51","date_gmt":"2012-09-19T08:58:51","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=5523"},"modified":"2012-09-19T04:58:51","modified_gmt":"2012-09-19T08:58:51","slug":"for-superfast-stock-traders-a-way-to-jump-ahead-in-line-wsj-com","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2012\/09\/19\/for-superfast-stock-traders-a-way-to-jump-ahead-in-line-wsj-com\/","title":{"rendered":"For Superfast Stock Traders, a Way to Jump Ahead in Line &#8211; WSJ.com"},"content":{"rendered":"<p>By SCOTT PATTERSON and JENNY STRASBURG<\/p>\n<blockquote><p>Haim Bodek was a Wall Street insider at Goldman Sachs and UBS before launching his own [high-frequency] trading firm.<\/p>\n<p>Mr. Bodek approached the Securities and Exchange Commission last year alleging that stock exchanges, in a race for more revenue, had worked with rapid-fire trading firms to give them an unfair edge over everyday investors.<\/p>\n<p>He became convinced exchanges were providing such an edge after he says he was offered one himself when he ran a high-speed trading firm\u2014a way to place orders that can be filled ahead of others placed earlier. The key: a kind of order called &#8220;Hide Not Slide&#8221;&#8230;&#8230;&#8230;<\/p><\/blockquote>\n<p>via <a href=\"http:\/\/online.wsj.com\/article\/SB10000872396390443989204577599243693561670.html?mod=WSJ_hp_Asia_EditorsPicks\">For Superfast Stock Traders, a Way to Jump Ahead in Line &#8211; WSJ.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By SCOTT PATTERSON and JENNY STRASBURG Haim Bodek was a Wall Street insider at Goldman Sachs and UBS before launching his own [high-frequency] trading firm. Mr. Bodek approached the Securities and Exchange Commission last year alleging that stock exchanges, in a race for more revenue, had worked with rapid-fire trading firms to give them an &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2012\/09\/19\/for-superfast-stock-traders-a-way-to-jump-ahead-in-line-wsj-com\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;For Superfast Stock Traders, a Way to Jump Ahead in Line &#8211; WSJ.com&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[57,32,34],"tags":[1678,1685,1692,2582],"class_list":["post-5523","post","type-post","status-publish","format-standard","hentry","category-stock-markets","category-trading","category-us-canada-countries-regions","tag-hft","tag-high-frequency-trading","tag-high-speed-trading","tag-order-types"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>For Superfast Stock Traders, a Way to Jump Ahead in Line - WSJ.com - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"For Superfast Stock Traders, a Way to Jump Ahead in Line - WSJ.com - the patient investor\" \/>\n<meta property=\"og:description\" content=\"By SCOTT PATTERSON and JENNY STRASBURG Haim Bodek was a Wall Street insider at Goldman Sachs and UBS before launching his own [high-frequency] trading firm. Mr. Bodek approached the Securities and Exchange Commission last year alleging that stock exchanges, in a race for more revenue, had worked with rapid-fire trading firms to give them an &hellip; Continue reading &quot;For Superfast Stock Traders, a Way to Jump Ahead in Line &#8211; WSJ.com&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2012\/09\/19\/for-superfast-stock-traders-a-way-to-jump-ahead-in-line-wsj-com\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:author\" content=\"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/\" \/>\n<meta property=\"article:published_time\" content=\"2012-09-19T08:58:51+00:00\" \/>\n<meta name=\"author\" content=\"Colin Twiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Colin Twiggs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2012\\\/09\\\/19\\\/for-superfast-stock-traders-a-way-to-jump-ahead-in-line-wsj-com\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2012\\\/09\\\/19\\\/for-superfast-stock-traders-a-way-to-jump-ahead-in-line-wsj-com\\\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/person\\\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"For Superfast Stock Traders, a Way to Jump Ahead in Line &#8211; WSJ.com\",\"datePublished\":\"2012-09-19T08:58:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2012\\\/09\\\/19\\\/for-superfast-stock-traders-a-way-to-jump-ahead-in-line-wsj-com\\\/\"},\"wordCount\":137,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\"},\"keywords\":[\"HFT\",\"high frequency trading\",\"high-speed trading\",\"order types\"],\"articleSection\":[\"Stock Markets\",\"Trading\",\"US &amp; Canada\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2012\\\/09\\\/19\\\/for-superfast-stock-traders-a-way-to-jump-ahead-in-line-wsj-com\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2012\\\/09\\\/19\\\/for-superfast-stock-traders-a-way-to-jump-ahead-in-line-wsj-com\\\/\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2012\\\/09\\\/19\\\/for-superfast-stock-traders-a-way-to-jump-ahead-in-line-wsj-com\\\/\",\"name\":\"For Superfast Stock Traders, a Way to Jump Ahead in Line - WSJ.com - the patient investor\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#website\"},\"datePublished\":\"2012-09-19T08:58:51+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2012\\\/09\\\/19\\\/for-superfast-stock-traders-a-way-to-jump-ahead-in-line-wsj-com\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2012\\\/09\\\/19\\\/for-superfast-stock-traders-a-way-to-jump-ahead-in-line-wsj-com\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2012\\\/09\\\/19\\\/for-superfast-stock-traders-a-way-to-jump-ahead-in-line-wsj-com\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/thepatientinvestor.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"For Superfast Stock Traders, a Way to Jump Ahead in Line &#8211; WSJ.com\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#website\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. 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He founded PVT Capital (AFSL number 546090), which provides income and growth strategies to wholesale clients. Colin also co-founded Incredible Charts and writes the popular Patient Investor newsletter. Using a top-down approach, Colin identifies macro trends in the global economy and then combines fundamental and technical analysis to evaluate opportunities in sectors that stand to benefit. 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He founded PVT Capital (AFSL number 546090), which provides income and growth strategies to wholesale clients. Colin also co-founded Incredible Charts and writes the popular Patient Investor newsletter. Using a top-down approach, Colin identifies macro trends in the global economy and then combines fundamental and technical analysis to evaluate opportunities in sectors that stand to benefit. 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A large portion of trading in the equities market has little to do with \"the fundamentals of\u2026","rel":"","context":"In &quot;Stock Markets&quot;","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":13470,"url":"https:\/\/thepatientinvestor.com\/index.php\/2016\/06\/18\/iex-group-gains-approval-for-stock-exchange-the-new-york-times\/","url_meta":{"origin":5523,"position":1},"title":"IEX Group Gains Approval for Stock Exchange | The New York Times","author":"ColinTwiggs","date":"June 18, 2016","format":false,"excerpt":"By NATHANIEL POPPER: America is getting a new stock exchange from the most prominent critics of high-frequency trading. After months of delays and a brutal lobbying battle that divided Wall Street, the IEX Group won approval on Friday from the Securities and Exchange Commission to become the nation\u2019s 13th official\u2026","rel":"","context":"In &quot;Stock Markets&quot;","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6356,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/12\/04\/how-regulations-led-to-high-frequency-trading\/","url_meta":{"origin":5523,"position":2},"title":"How Regulations Led to High-Frequency Trading","author":"Colin Twiggs","date":"December 4, 2012","format":false,"excerpt":"John Carney writes that high frequency trading is an unintended consequence of regulatory action to remove market specialists: High frequency trading grew up in the aftermath of a decades-long struggle by Congress, the SEC, and the stock exchanges to stamp out the specialists, who were accused of front-running customers, favoritism\u2026","rel":"","context":"In &quot;Stock Markets&quot;","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8094,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/07\/11\/the-high-frequency-trading-arms-race-frequent-batch-auctions-as-a-market-design-response\/","url_meta":{"origin":5523,"position":3},"title":"The High-Frequency Trading Arms Race: Frequent Batch Auctions as a Market Design Response","author":"ColinTwiggs","date":"July 11, 2013","format":false,"excerpt":"Extract from a paper by Eric Budish, Peter Cramton, and John Shim proposing that frequent batch auctions -- uniform-price double auctions conducted at frequent but discrete time intervals (e.g. every 1 second) \u2013 be employed to end the high-frequency trading arms race: The fourth and final part of our argument\u2026","rel":"","context":"In &quot;Stock Markets&quot;","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4974,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/07\/28\/study-high-speed-trading-hurts-long-term-investors-wsj-com\/","url_meta":{"origin":5523,"position":4},"title":"Study: High-Speed Trading Hurts Long-Term Investors &#8211; WSJ.com","author":"Colin Twiggs","date":"July 28, 2012","format":false,"excerpt":"SCOTT PATTERSON: Investors trying to trade cost-effectively often find themselves standing in line behind the fleet-footed traders and are forced to wait to execute their trades, which in turn can cause poorer results, the report [by Pragma Securities LLC -- a research and trading firm] says. The upshot: Investors are\u2026","rel":"","context":"In &quot;US &amp; Canada&quot;","block_context":{"text":"US &amp; Canada","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/us-canada-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6357,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/12\/04\/high-speed-traders-profit-at-expense-of-ordinary-investors-a-study-says-nytimes-com\/","url_meta":{"origin":5523,"position":5},"title":"High-Speed Traders Profit at Expense of Ordinary Investors, a Study Says &#124; NYTimes.com","author":"Colin Twiggs","date":"December 4, 2012","format":false,"excerpt":"NATHANIEL POPPER and CHRISTOPHER LEONARD write: The chief economist at the Commodity Futures Trading Commission, Andrei Kirilenko, reports in a coming study that high-frequency traders make an average profit of as much as $5.05 each time they go up against small traders buying and selling one of the most widely\u2026","rel":"","context":"In &quot;Stock Markets&quot;","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/5523","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=5523"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/5523\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=5523"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=5523"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=5523"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}