On Thursday, June 28, 2012 7:15:14 PM UTC-4, momarch wrote:
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http://www.nytimes.com/2012/06/27/business/stock-exchanges-duel-with-newcomers-over-trade-transparency.html?_r=1&pagewanted=all
The internalizers were caught in the Facebook initial public offering. They paid to trade against all retail investors clamoring for Facebook shares, but when the Nasdaq exchange broke down just as trading opened, they were left holding the shares. Knight Capital has said it lost around $35 million in the incident.
HAHA.
Good one. I personally wish they would institute a Tobin Tax on robotic share trading. We don't need that much liquidity.
RL