Saturday, 1 November 2014
Last updated 23 hours ago
Apr 2 2014 | 10:53am ET
A high-frequency trading firm led by a former hedge fund manager has postponed its initial public offering in the wake of a storm of bad publicity for the industry.
Virtu Financial, which is headed by Actius Capital Management founder Vincent Viola, won’t begin marketing itself until after April 20, Bloomberg News reports. The firm made the decision last night, following the media reaction to the release of a new book condemning high-frequency trading.
That book, Flash Boys by Michael Lewis, argues that high-speed trading has rigged U.S. stock markets.
Virtu filed for an IPO last month. Its roadshow was set to begin about a week earlier than now planned.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Traders form habits quickly. Understanding these and their effects can better equip us to decipher actual market moves.