Nanex ~ 23-Jan-2013 ~ The Early HFT Bites the Apple
The High Frequency Trading Algos are getting an early start today in Apple. With only
1 exchange quoting (NY-ARCA), HFT manages to cancel/replace 32,574 orders and execute
10 trades. Sometimes, the manipulation is so obvious that it makes you wonder what is
going on with the regulator.
The charts below show prices in the stock of Apple Computer (symbol AAPL) on January
23, 2013. The gray shading is the NBBO, triangles are best bid and best ask prices,
and circles (shown on 1 chart) represent trades.