Thursday, November 21, 2013


There's no such thing as a perfect market structure, and there are plenty of problems and unresolved questions about the way stock trading functions today. We've got dark pools and high-frequency trading, which are in the midst of reshaping the market environment in ways we don't yet understand. "Connectivity issues" that spark trading shutdowns have become frequent enough to spark jokes in the Twitterverse about rogue squirrels nibbling away on cables. Then there are big snafus, such as the one that wreaked havoc during Twitter's (NYSE:TWTR) IPO debut.