Nanex ~ 08-May-2012 ~ Algo Testing or Quote StuffingThe symbol FPP exhibited strange non-economically linked quote activity. No trades occur during any of the periods in the charts. We think groups of these symbols are used to ensure processor activity across exchange networks can be controlled or randomized. The quote activity appears to be coming from one firm connected to multiple exchanges and not algos reacting to other algos.
|The next set of images are all 1 millisecond interval charts that zoom in on a few of the active areas of the above charts.|