A plaque remaining from the Big Apple Night Club at West 135th Street and Seventh Avenue in Harlem.

Above, a 1934 plaque from the Big Apple Night Club at West 135th Street and Seventh Avenue in Harlem. Discarded as trash in 2006.

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Entry from October 16, 2013
Fantasecond

Entry in progress—B.P.

Nanex
Publication Date: 09/20/2011
HFT Breaks Speed-of-Light Barrier, Sets Trading Speed World Record.
Adds a new unit of time measurement to the lexicon:
fantasecond. 
On September 15, 2011, beginning at 12:48:54.600, there was a time warp in the trading of Yahoo! (YHOO) stock. HFT has reached speeds faster than the speed-of-light, allowing time travel into the future. Up to 190 milliseconds into the future, or 0.19 fantaseconds is the record so far. It all happened in just over one second of trading, the evidence buried under an avalanche of about 19,000 quotes and 3,000 individual trade executions. The facts of the matter are indisputable. Based on official UQDF/UTDF exchange timestamps, there is unmistakable proof that YHOO trades were executed on quotes that didn’t exist until 190 milliseconds later!
(...)
So we can be certain the exchange timestamps were accurate, which means that HFT has truly entered the era of the fantasecond. 
(...)
Maybe it would be better to just fantasize about fantaseconds after all.

Zero Hedge
It’s Official: HFT Breaks Speed-of-Light Barrier, Sets Trading Speed World Record
Submitted by Tyler Durden on 09/20/2011 11:03 -0400
Submitted by Nanex
HFT Breaks Speed-of-Light Barrier, Sets Trading Speed World Record
Adds a new unit of time measurement to the lexicon: fantaseconds.


On September 15, 2011, beginning at 12:48:54.600, there was a time warp in the trading of Yahoo! (YHOO) stock. HFT has reached speeds faster than time itself. Up to 190 milliseconds into the future, or 0.19 fantaseconds is the record so far. It all happened in just over one second of trading, the evidence buried under an avalanche of about 19,000 quotations and 3,000 individual trade executions. The facts of the matter are indisputable. Based on official exchange timestamps, there is unmistakable proof that YHOO trades were executed on quotes that didn’t exist until 190 milliseconds later!

Waiting for Skynet
October 21, 2012
HFT and FantaDecades
POSTED IN HFT, NANEX RESEARCH
Nanex coined the term “fantasecond” where you can see a trade appear on the public data feed before the quotes ahead of it show up. But here I extrapolate out further and write about how HFT and other unregulated market issues are creating “fantadecades”.  These algos running today are not only grabbing sub-penny increments from today’s investors, they are grabbing untold amounts from TOMORROW’S investors as well.

Zero Hedge
How HFT Minted Money During the Financial Crisis
Submitted by Tyler Durden on 10/16/2013 18:37 -0400
We’ll give you a hint, says Nanex: fantaseconds. Fantaseconds, everywhere. This is how High Frequency Trading (HFT) practically minted money during the financial crisis. With no regulators in sight, HFT robbed investors and other traders blind. With very little effort, Nanex has created numerous charts to illustrate the absurdity that markets functioned well during the financial meltdown. Many of the short term oscillations shown in these charts were created by HFT algos to induce a lag and create latency arbitrage opportunities. 

Posted by Barry Popik
New York CityBanking/Finance/Insurance • Wednesday, October 16, 2013 • Permalink