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Broadcast Interview on Sweden TV 4

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Sweden's TV 4 has a show called Kalla Ifakta (Cold Facts) similar to the U.S. program 60 Minutes. Lennart Peterson arrived with a film crew and interviewed Eric Hunsader at Nanex's Winnetka offices on the subject of HFT in Sweden's stock market. The show airs on channel 4, Wednesday, December 14, 2011 at 21:30 Sweden time.

Here is a link to the full video of the show.

Paul Wilmott, who coincidentally appeared in the financial thriller documentary Money & Speed, was also interviewed for this show. In the Cold Facts interview, Paul Wilmott observes:

As a trader running a black box system you don't care about the value [of the stock you are trading], you care about how much money you can make in the next few seconds. And if your trading causes the share price to fall from $40 down to 10 cents, you don't care, you made some money along the way.
He continues (video clip below)..
Anybody who's now making money from HFT, whether it's exchanges, or banks, or whoever; they will all be saying "Oh, don't worry, don't worry". And they'll be looking at their watches and thinking "I just have to keep saying don't worry for another two years, because in two years I will have made all the money I need to make and the opportunity will be gone". So, I'll just keep saying there's nothing to worry about and keep an eye on my watch.
(or download mov or mp4)

Additional clips:

Eric Hunsader: "So this is 100 times more than what we call absurd" (or download mov or mp4)

Eric Hunsader: "It's either stupidity, or it's manipulation" (or download mov or mp4)

Eric Hunsader: "They [regulators], are way too far behind. Shockingly far behind" (or download mov or mp4)

Paul Wilmott: "There should be protests" (or download mov or mp4)

Here are a few of the charts we generated while researching the Swedish markets.

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Links to 2 of the text files on screen in the Cold Facts program:

ATCO.A
ATCO.B
Date    #Sym   Orders     Trades    Cancels   <= 1ms 2ms - 10ms 11ms - 100ms  101ms - 1sec Expire EOD  Trades    <=1ms      <= 10ms    <= 100ms   <= 1s > 1s
20110801 519 7,544,983 114,698 7,423,018 1,621,316 765,496 1,018,435 896,356 7,267 1.5% 21.8% 32.2% 45.9% 57.9% 42.1%
20110802 519 8,563,592 144,237 8,411,670 1,925,563 815,379 1,167,769 1,043,026 7,685 1.7% 22.9% 32.6% 46.5% 58.9% 41.1%
20110803 519 10,544,570 175,201 10,361,896 2,569,633 1,032,501 1,405,114 1,328,858 7,473 1.7% 24.8% 34.8% 48.3% 61.1% 38.9%
20110804 519 15,920,431 225,640 15,686,948 3,671,737 1,714,697 2,460,631 2,152,349 7,843 1.4% 23.4% 34.3% 50.0% 63.7% 36.3%
20110805 519 17,085,652 315,915 16,762,483 3,399,312 1,709,074 3,012,675 2,661,551 7,254 1.8% 20.3% 30.5% 48.4% 64.3% 35.7%
20110808 519 15,992,281 275,697 15,708,100 3,240,071 1,426,442 2,510,544 2,409,037 8,484 1.7% 20.6% 29.7% 45.7% 61.0% 39.0%
20110809 519 21,515,882 329,640 21,177,366 5,321,444 2,170,415 3,584,144 3,426,319 8,876 1.5% 25.1% 35.4% 52.3% 68.5% 31.5%
20110810 519 16,917,324 275,690 16,633,120 3,280,996 1,566,118 2,766,945 2,980,909 8,514 1.6% 19.7% 29.1% 45.8% 63.7% 36.3%
20110811 519 19,134,688 219,889 18,906,153 3,725,455 1,822,091 3,089,074 3,137,701 8,646 1.1% 19.7% 29.3% 45.7% 62.3% 37.7%
20110812 519 13,257,243 174,423 13,075,666 2,504,307 1,243,985 2,050,603 2,040,036 7,154 1.3% 19.2% 28.7% 44.3% 60.0% 40.0%
20110815 519 7,965,487 115,202 7,842,793 1,528,163 715,279 1,137,607 1,033,900 7,492 1.4% 19.5% 28.6% 43.1% 56.3% 43.7%
20110816 518 10,294,623 148,208 10,139,245 2,151,624 992,445 1,489,776 1,312,687 7,170 1.4% 21.2% 31.0% 45.7% 58.6% 41.4%
20110817 518 9,102,202 132,146 8,962,647 1,743,421 786,189 1,252,293 1,148,084 7,409 1.5% 19.5% 28.2% 42.2% 55.0% 45.0%
20110818 518 12,557,943 207,042 12,343,308 2,101,739 968,630 1,650,025 2,063,572 7,593 1.6% 17.0% 24.9% 38.2% 55.0% 45.0%
20110819 518 14,611,798 228,831 14,375,726 2,530,767 1,348,098 2,045,048 2,236,167 7,241 1.6% 17.6% 27.0% 41.2% 56.8% 43.2%
20110822 518 12,256,590 150,751 12,098,966 2,424,502 1,140,468 1,635,020 1,696,967 6,873 1.2% 20.0% 29.5% 43.0% 57.0% 43.0%
20110823 518 11,715,371 150,402 11,557,659 2,156,520 1,093,661 1,538,212 1,679,252 7,310 1.3% 18.7% 28.1% 41.4% 56.0% 44.0%
20110824 518 10,103,733 169,612 9,926,554 1,753,325 930,483 1,321,274 1,413,559 7,567 1.7% 17.7% 27.0% 40.3% 54.6% 45.4%
20110825 518 12,303,765 164,808 12,131,992 2,114,352 1,153,967 1,508,981 1,906,096 6,965 1.3% 17.4% 26.9% 39.4% 55.1% 44.9%
20110826 518 11,893,070 146,321 11,741,015 1,949,869 1,005,765 1,435,925 1,805,577 5,734 1.2% 16.6% 25.2% 37.4% 52.8% 47.2%
20110829 518 5,247,786 80,170 5,161,549 1,020,600 485,067 578,449 617,810 6,067 1.5% 19.8% 29.2% 40.4% 52.3% 47.7%
20110830 518 8,560,209 124,611 8,428,459 1,549,234 659,469 1,009,778 1,147,282 7,139 1.5% 18.4% 26.2% 38.2% 51.8% 48.2%
Sum 273,089,223 4,069,134 268,856,333 54,283,950 25,545,719 39,668,322 40,137,095 163,756 1.5% 20.2% 29.7% 44.4% 59.4% 40.6%



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Publication Date: 12/14/2011
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