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Submission + - Mysterious Algorithm Was 4% of Trading Activity Last Week (cnbc.com) 1

concealment writes: "A single mysterious computer program that placed orders — and then subsequently canceled them — made up 4 percent of all quote traffic in the U.S. stock market last week, according to the top tracker of high-frequency trading activity. The motive of the algorithm is still unclear.

The program placed orders in 25-millisecond bursts involving about 500 stocks, according to Nanex, a market data firm. The algorithm never executed a single trade, and it abruptly ended at about 10:30 a.m. ET Friday."

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Mysterious Algorithm Was 4% of Trading Activity Last Week

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What this country needs is a dime that will buy a good five-cent bagel.