By Steve Zwick
In late March, the initial public offering on trading platform BATS (which stands for “Better Alternative Trading System”) was torpedoed by “systems issues” that slammed share prices down from $15.25 to a few cents in less than 900 milliseconds and caused a temporary halt in trading on Apple.
Eric Hunsader looked at the trade-flow data and smelled an algorithm — something he’s gotten quite adept at as president of market data-feed firm Nanex.
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