the ah, me hello, molly site and all the top stories on al jazeera, the us secretary state, has outlined how the by did administration plans to men ties with palestinians during a trip to bolts to the sci fi with israel anthony blinking announced they'll reopen a diplomatic outreach office and pledge millions of dollars in new age. but he also said he'd ensure none of that money would go. so how much a diplomatic had said james, by his reports from ramallah and the occupied westbank arriving in televi. the us secretary of state on a trip with a narrow aim, keeping things calm after the c. his 1st stop an audience with israel's prime

minister pledging the u. s. is continuing commitment to israel, the fence. but adding this, we believe that palestinians and israelis equally deserved to live safely and securely, to enjoy equal measures of freedom opportunity, and democracy to be treated with dignity. that echoed by the israeli leader. his words, perhaps unconvincing to some of the leading and 11 de bombardment of garza, we discussed also how to improve the lives in the conditions of the palestinians. the managerial conditions in ramallah. the 1st visit by a secretary of state to the president of the palestinian authority for over 3 years old contact was stopped when the trump administration announced it was moving the u . s. embassy to jerusalem. there was a cordial tone, but it was clear, one of the president central de bonds was not on the u. s. agenda. one at amanda,

and the coon. we hope that the future will be full of diplomatic activity in order to reach a comprehensive solution. and to put an end to recent events, president bass was told though that the u. s. would reopen its consulate general in east jerusalem. a diplomatic representation specifically for palestine, which was close by president trump. there was a commitment to help in the rebuilding of garza off the 11 day war and a new package of funding for the un and the palestinian authority. what was most telling in his meetings was what secretary lincoln didn't say. no mention of pushing towards the 2 state solution, no mention of a peace process. it's clear that the biden administration wants to put a lid on this conflict, but for now doesn't want to attempt to actually solve it. james bay's al jazeera ramallah newly released security camera video shows the moments after palestinian girl was shot in the back by israeli security forces. the 16 year old was wounded

by rubber coated steel bullet. last week. she been standing outside her home in the occupied easter with some neighborhood of shake off offices, been fired, a stun grenade into the house. the incident happened during protest against the forced expulsions of palestinians from the neighbourhood airlines. the changing course to avoid batteries is international. after international outrage mount server jet, that was for the land in minsk and a distant gen janice on board who was arrested advisor plaintiffs go to the jet line off to what turned out to be a false bomb threat. the white house and criminal have confirmed the jo bought and we'll meet vladimir putin in geneva next month. the summit comes at a time of growing tensions. biden has described russia as the biggest threat to us security us media reporting that new york prosecutors investigating donald trump,

his organization, and those close to us have convened a grand jury. it's unclear who could be in line for indictment. at least 2 people have been killed and 28 others injured during more anti government purchase in baghdad. police fire live rounds into the unused tear gas to discuss people. there is a guy about the killing of iraqi pro democracy activists and journalists in recent months. the unsecured council is finding an emergency meeting to discuss molly on wednesday of what france is describing as a qu, within a coup. the answer and vice president, colonel a c. me goiter who lead last year as ministry take over, ousted the transitional president, the prime minister and ordered that of rests as the headlines money bought is next . the. ready

the, the 5th, the february, 2018. a 3 pm little time. don't jones plummet says that the stock exchange has been hit by lightning. it loses more than $1500.00 points in a matter of minutes. never before in the history of the index of american stalks law, so much in a single day, a new york is not alone. the collapse spread like wildfire to frankfort, sidney, tokyo, panic erupt. nobody knows what has caused this disaster. there is no discernible real world economy reason. there are no new economic predictions, no unemployment statistics. the only explanation that is offered sound strange. apparently the trading computers were too fast. the news?

was it possible that a fringe development of automated stock trading? yester nami cook, celebration of computer systems, could almost cause a worldwide financial crisis in berlin, get hard chick campaigns for more transparency in the financial sector than the one on the $1500.00. figuring out which of chevy, if there's no need to see someone's shadley by him and he has to live with me. they couldn't and talk to hundreds. doesn't he gets a chance to go to a 1000 when the veterans eating zine, he doesn't need to resign at the festival? privately, essentially high frequency trading significantly reduces the time that a stock is held before being sold. sometimes it's just milliseconds or even microseconds. high frequency trading is the opposite of long term investment,

which is what stock markets were actually designed for. access to stocks also became a lot faster. the quality of the investment was no longer the deciding motivation for buying or selling. all that mattered was who could react the fastest high frequency trading is performed exclusively by computers, not people. these computer systems are completely autonomous. essentially, they are warring bots. money bought high frequency traders, place that computers as close as possible to stock exchange computer systems. a process known as co location proximity and high speed connections are a deciding factor. for example, a pension fund wants to buy 600000 shares at a price of $9.50. their order goes out to the various stock exchanges. when the order arrives at the 1st stock exchange, a high frequency trading system detected and immediately places its own orders for the same shares with all the other exchanges faster than the pension fund can.

thanks to its high speed systems, the high frequency trader is able to buy up all the shares at a price of $9.50, then sell them to the pension fund for $9.51, the high frequency trader, his own $6000.00 within a few milliseconds and with no attached risk. ah, high frequency traders do not have to be active in the kits permanently. their advantage is most effective when crises, disasters, or political decisions cost strong price fluctuations. essentially high frequency traders benefit from crises and are constantly waiting for the next one to occur. in the beginning, the intention was to use greater predictability and foster infrastructure to increase the stability of financial markets. in fact,

the opposite has occurred. automation has made them more vulnerable. after all, there is no electronic system that cannot be hacked. the me, i had a retreating engine, was running in frankfurt remotely, but it was being controlled from london. what happened in this particular case is that internet related outage caused us to lose control over the engine. that was in frankfort. and i remember for a couple hours trying to validate that the engine itself, liz, demobilized,

ah, turned on my engine was actually live. ah, i had actually designed a feature that said if you break connection with the mother ship, stop trading. but that feature had a parameter and it was off. i had this engine that was basically trading. it could last was $30000000.00, right. it lost a few $100000.00, but it was, it was a terrifying experience. heim bo deck is a trader and commerce software developer in stanford, connecticut. i'm bo day played an important role in the development of automated stock trading. his idea of using computer algorithms to process information as

efficiently as possible is one of the foundations of modern stock trading. a 2nd prerequisite for success is a high speed data connection. the french businessman steph antique knows all about fast data transfer. his company's mckay brothers and quincy data are based in paris and california and operate the fastest data connection between new york and chicago. the homes of america's most important stock exchanges. oh, this antique and heim beaudet players in global battle for the best computer software and the fastest data networks. this contest began a long time ago in the casinos of las vegas. at the end of the

1960 s a new generation of scientists recognizes that it is possible to use computers to increase its luck at the tables. pioneers like it would sold and blair ho, develop algorithms that allow them to count cards when playing black jack and to make predictions. doing pharma takes a different approach in the 1900 seventy's. the physicist makes, relate his field of expertise. pharma and his team begin to play they soon discover that it's possible to predict the cost of the bowl if one knows the current position and speed. and then we embarked on building a computer that would allow us to do this. now this was 1976 when we got started. so you have to realize at that point there were no personal computers or anything

like that. in pennsylvania's leg, in the mountains, if antiques company is working on making the fastest data connection between new york and chicago even faster. no. who, some constituted monterey sampler. him over in phoebe said he bought on toilet data center for premier to allow he just kinda had you monday actually left thomas, you could the don't the senior how do you solve? were you just a no to say it was sheila is repeated the maneuver analogy. can get more effect, it should be teachers can push it to or with absurd faith. to live on the shana was willing shorter to get the snell poker depreciate go risk on new jersey. she'll mean do i want you to know her songs? i've been one to fail minus you see empty to come laska yang cause the form

you know on do i sorry to stone the tone that he was told that he was the she was no no no don't that he was down to the passenger leaking more i do show into an algorithm is a rule for answering questions. algorithms provide the foundation for farmers bet, said the casino. oh i a computer is required to process algorithms quickly at the time, however, these are large expenses are. these begins to change in the mid 19 seventy's, the 6502 microprocessor. it just come out the same micro processor, guys from apple used to build the computer. doing thomas team designs

a computer around the same process. the initial version of it was under the there was a pack of w batteries under the other on pit switches. and the shoes wires running up and down and antenna around the shoulders. the antenna would transmit the signal to a 2nd person who would then place the best from the moment that creepy k spends the ball until the ball until that gets close. there is typically about 10 seconds the past 10 to 15 seconds on. so we had to be able to take the data or the rotor and of all and get the prediction 4 to 6 seconds ahead of when that that's got closed so that the better had enough time to reach over in place. so we had to have the prediction coming pretty fast.

the computer we had render a slope by modern standards. but because it was you know, carefully coded machine code. we were able to get the answer out. in a matter of a fraction, 2nd. doing from a computer became the stuff of legends. it wasn't just any computer. it was the 1st computer built into clothing. while steve job's and steve wozniak, were creating the original desktop computer, join comma was building one in a shoe. farmer himself becomes an icon for people working in the field of computer based predictions. pharma and his team eventually decided the winnings at the roulette wheel. do not justify the risks they are taking. ah, they returned to more serious scientific fields. farmer finds himself at los alamos,

where he investigates methods of predicting the weather, among other things. then the world changes, or at least the world of money. ah, let's go to the financial counter bill, how late to find out. what's happening on wall street. one word to describe what's happening and that is true. everything is almost 200 pointed down by 191. all right, now, 345000000. available on world 3 data jones industrial average. right now, down 271.53 point putting the down below the 2000 right now, right now and 1975.20 during the 1987 stock market crash investors attempt to dump their shares in a panic. now brokers eventually begin to ignore the frantically ringing telephones

. the authorities decide that more trading should be left to computers, as people simply are not reliable enough. ah, the new york stock exchange remains america's largest. but chicago becomes the center of new financial technology and the whole trading company is one of the pioneers in the field of big data and market prediction ah, in the early 1990 s. the company is considered a measuring stick by many traders. ah, like doing whole trading companies found a black ho the recently put his mathematical skills to the test in las vegas, where he counted cards at the blank check tables in the 1970 s. he is one of the 1st to recognise the potential of automated financial trading in 1985. he found his

own company in chicago, the center of us derivative trading. i'm bow deck joins whole team in september of 997. quantitative analysts are also in high demand in europe, the best emerged from the universities in paris, mathematicians a welcome addition to the market, as all physicists like steph antique. and the book you show was pizza to cleveland with a on bush edition issue a from g c. medea bedroom, the shower shows off casa, it had been purely poker shade more on bush, if he can, i don't just really go

in the show. scuse, peter declared to secure the met him at the penal shaleigh. vive, don't you know of a d? this is the duck. if he's there, can you know the shortest if he can do that, if he's a computer, he's double. he did the 3 are likely to buffet month. yeah. the question love so you're going to put he must show the good i both. so, me see, come him, i'm on the show, kayla bennett perry. bow a plan for bunker from the d on. but he inactivity too much of a problem though. so i'm going to sit down that if he's here for food is completely ready. t me t shift morgan of her sheep process he r t d. like if you need to present media the new panel while

we were doing the real project, our friend rob chart came over and said i just found out about this amazing thing. chaos. so we went up to the lab and we looked at the simulation on the analog computer and we were just mathes because you could see, even though there were deterministic equations with making this random looking set of patterns on the screen. and so we got completely fascinated by that and we, we created algorithms for finding identifying patterns in nature that are described by chaotic dynamics, me the doin. tom devotes himself to studying the 10 predictions to be made. one of his areas of study is meteorology, pharma and his team in los alamos, are able to expand the timeframe for precise hurricane predictions from 2 days to 5

. this gives the emergency services valuable time to evacuate people in danger, moon. every time i would talk about this, somebody would say, well, have your stock market and so i kind of hard saying no, i, meanwhile, i heard about the efficient market hypothesis which says that stock markets are inherently unpredictable. was a very popular theory at the time. i didn't believe that. so normally i once again left, he left his job at university of illinois, and i left my job at salah most, and we gathered with some other younger scientists business guy and started and company to use computers to the stock market. this was a 991 and we called ourselves production company. mm.

ah. i said those are that one. yeah. i think most me, and the reason for my call to see these are, you know, the fund is and they said that she wants to still continue to move. you know, these are also a much in the future. you can also going to be able to tell you the loan. i'm going to go into the on the, on the, on the perry stock exchange is not the only empty shell. even wall street is little more than a movie set these days. this interaction data center is located in an anonymous building on the outskirts of vienna, austria. the company has 13 such co location centers throughout europe.

more than $100.00 internet service providers. 5 internet exchanges and important client services have computer stations here. as does vienna stock exchange, the exact location is kept secret, and there is no official confirmation of the present stock exchange computers. we have mobile just in thanks and the stations anthem and impact on the internet. so these are a few more community of interest in, in okay. awesome. so this has to be the name and meet them on that one off the market share if they can. so kind of time, he's of the essence as many as we need to get logged in said this

big sticky millisecond. industrial distribution shapes daily for gaming scene. so finance is less than countries of which for this reason, the vienna stock exchange is most important server over which deals are made, isn't located in vienna at all. it is in frankfort in the race to buy or sell. it's important to be as close as possible to the main server of the main stock exchange proximity his time and time. he's money. in the 1990 s u. s. trading is divided between the new york stock exchange on wall street with its traditional trading floor and its traditional companies such as ibm and general motors and the electronic stock exchange. nasdaq, me, markets, actually one electronic 1st and many of us who are part of that transition from

floor to electronic markets. we kind of were groomed in the european markets 1st and then we came back to the states. matter of fact, your x is quite interesting to me looking back because it was the 1st exchange we're where i found, you know, basically a cheap to exploit are going to create and you get a big promotion for finding a cheat on your exchange to get prices faster than we should have. years later when i hit the front page of the wall street journal for my whistle blowing against direct edge, former colleague from home, contacting me by email and said, hey, what you turned on a direct edge is very similar to what we were doing and your and i've been whistler for a year, and i had not really acknowledged that i was guilty of the same type of thing that

i had turned in. you know, i just had an equated the 2 and it made me realize how difficult it is for people to really see what they're doing in our industry. when we found a prediction that we, we didn't know anything about financial markets, our method was to look for patterns in the data. and when we found those patterns, then we would design a training system that would make that's based on the patterns we learn some lessons from the left. one lesson was that you've got a big stock market also to make a good model. if you don't have to pretty very well, if you're right,

55 percent of the time. if you make enough depths, then you can make pretty good profit. and unlike roulette, where if you start, when they can just throw you out or friend to break your kneecaps, the stock market, they don't kick you out for winning. so we actually took us about 5 years before we really found something that genuinely worked in a consistent way. once we did that, it worked very well. and so production company traded subsequently for about 25 years. we ended up selling it to you vs in $2600000000.00 in a fall should be protector. ready forgotten era. he was her tormentor, ah, betrayed for years she carries the evidence inside her. that will

be enough to find justice in afghanistan. patriarchal society. a 1000 guards blank me. a witness documentary announces era. warning drug cartel vigilante groups in a population called in the middle. what's your reason to thing and make sure why do you want this territory? i'm reporting from an episode of mixed violence to investigate the content upcoming election. change anything the people living here? so we're getting join me john, home and for the full report on our i,

which is 0. great. with me, i high money site and the headlines on al jazeera, the us actually stays in the middle east, hoping to strengthen the faith. 5 between israel and hamis in garza, in an effort to mend ties with palestinians, antony blink, and announce millions and new aid. and says the u. s. is reopening a conflict in occupied east jerusalem. i informed president boss and earlier prime minister netanyahu that the united states will notify congress of our intention to provide $75000000.00 in additional development and economic assistance for the palestinians. in 2021 will also provide the 5 and a half $1000000.00 an immediate disaster assistance for gaza and little over

$32000000.00 for unrest. emergency humanitarian appeal. newly released security camera video shows the moments after palestinian girl was shot in the back by israeli security forces. the 16 year old was wounded by a rubber coated steel bullet. last week she'd been standing outside a home in the occupied east jerusalem neighborhood of shaped at all offices, then 5 stung grenade into the house. the incident happened during protest against the forced expulsions of palestinians from the neighbourhood. airlines a change in caused to avoid by the ruth as international outrage mount server jet that was forced to land in minsk and a dissident journalist on board who was arrested a fighter plane, a school to the jet line after what turned out to be a false bomb threat or the races accused to faking the bomb alert. u. s. media reporting that neo prosecutor's investigating donald trump, his organization,

and that is close to us, have convened a grand jury. but it's unclear who could be in line and diamond. at least 2 people have been killed and 20 others injured during more anti government process in baghdad. police 5 live rounds into the air and use t gas to disperse people. there's anger about the killing of rocky pro democracy, activists and journalists in recent months. the un security council is planning an emergency meeting to discuss molly on wednesday after what france is describing as a qu, within a coup, the inter and vice president colonel a see me going to ousted the transitional president and the prime minister and ordered that arrest news continues here now to 0 money bought me speed is not only essential when operating a stock exchange. investors and traders also have to react quickly. those who are

1st to recognise price differences between stock exchanges can use this advantage to make a lot of money. at the turn of the millennium, the large banks realized that they are falling behind their competition. in 1999, goldman sachs buying the whole trading company for half a $1000000000.00. hall was supposed to be, become like the backbone of goldman and really done it. and it really was a very, very different culture goldman and then at hall and many of the my people i related to and didn't feel at home dissatisfied with the investment banks, business practices, a number of former whole trading company employees leave goldman sachs in 2003 boat at joins u. b. s, which is planning to open a new trading floor in stamford. he is tasked with creating the infrastructure from the ground up. i remember the 1st time i heard about high frequency traders the

there's an elevator with the person who's very, very senior in the business now. and he was complaining about how they would interfere with the trading profits of the desk he was running. but that they didn't make that much money and i was, that was so, so interesting is that the strategy class made a huge amount of volume, but not much money at all. and we were like, why would people do that? you know, why would you do all that work and make such a small profit? many was surprised by the rise of high frequency trading de financial journalist jennifer niel kept a close eye on developments from the very beginning. fortunately,

then to lift. okay, the media space will be on the table. so you know, chris, heidi so it should be in the municipal office on facebook side more if it gets cool to get more for me, i'll be that. she said that the topic when it's on the money. so if you know, while the explosion of high frequency trading in the early 2 thousands continues, time, bo day is developing new trading strategies for his employer, u. b. s. he calls it science game. he's

algorithm follows the simple logic. because large orders are given preferential treatment by the stock market, the money bought dynamically increases in order to remain at the forefront and push out the competitors. however, there is a catch. he has to ensure that the artificially inflated order never actually takes place. if you put huge orders out there of that size and the whole trade, you will go pretty much instantaneously. belly up. ok, i won't go into details, but it happened. it's a game and chicken in a way. we had to write algorithms that said, if you treated 30000 contracts, you don't want to trade those 30000 contracts. so try to dump them immediately on another exchange where some other market makers still quoting 30. so we, we created all the, this algorithm in this kind of,

or in terms of getting the largest, what we called participation rate. it turned into this horrible game of chicken and hot potato, where you quoted more than you want in, then you really should. and there in any responsible manner. and then if you actually got hit, which happened, you needed to dump it on other people before before they realized that not potato is coming. it was as stupid as you can get. it was, it was just stupid. so the algorithm that i designed was powerful enough that everybody else had to match it. and that actually brought down the market system, the market data system of the us option market to the brink of collapse basically was so cool for me. i was like, i just like, literally just love this. i could see how many months it took for another firm to

realize what i was doing and try to introduce the same algorithm. and it took 3 years for 7 firms to figure it out. i'm bo deck size game turns him into a financial rock star. however, he knows that he can't play the game forever. it is time to strike out on his own. i walked out with the team and i set up trading machines. it was 2007. it was designed to be you know, a ferrari, but an independent for a to me, you know, for me it was really a dream is to be independent. i didn't realize it was going to turn into an odyssey . buddha leaves u b. s. at a time when the stock market in the usa and europe are changing dramatically. part

of this is due to the high frequency traders. the large investment funds around good by the fact that the small flexible high speed traders are constantly snapping at the heels. the banks begin to set up internal exchanges, which allow trades to take place in secrecy. more than 40 of the so called dark pools are established as alternatives to the 13 regular stock exchanges in the usa alone. the movement of investors into the dark pools forces the stock market to cater to the high frequency traders. and they soon make up the majority of trade. some estimates put the number as high as 70 percent before long. the banks themselves cannot resist the temptation of the high frequency money and open up the dark pool. the high frequency trading speed is all important. know she'd let me know when you shall g r

o v o d. me was going to should lead, does it now we launched right before the fans or phrases we launched basically into it. we traded through it, we scale it out all over our rooms and membership. some major changes pretty much hit when i call full footprint. and we went to a half percent us market share pretty much overnight and things were going very well until may 2009 when things mysteriously stopped stopped working. we would basically measure that the trades that we intended to do

were in fact profitable. and that where the trans with the machine should be doing over the period of 2009, i started seeing changes. ah, the treating did change quite a bit over the period of time. and what happened was, i kind of bought into them when i think of now as a mis where people say that, that exchange is toxic in and you know, without, you know, that's just kind of a blanket term. you know, i'm getting screwed on the exchange. that's but in toxic me. so what i, what was happening is i would keep redirecting our trading towards the changes that were less toxic and then there were none. so the last exchange took

a toxic which was direct edge in may of 2009. i was out of the way from the office and for a week and i came back and there was this dramatic change that was so severe that it basically took the business from modestly profitable to flat. in order to confront the problem, time bo deck immediately buys faster connections and price. feet optimize his his codes, but the problems increase. he watches power, leslie of the blood drains out of his company facing bankruptcy. i'm bo dank encounters a direct edge salesman at a party. i . he just told me he outlined 3 major abuses he'd. i got interested and i remember taken a napkin where we found the pen or something,

but i, i wish i had this napkins. so i'm, you know, i'm like, what do you mean? it works like this. and he explained to me these very, very sophisticated abuses. and he said to me that they built all the stuff to attract high frequency traders, but they hadn't done in good enough job. so now they were going to make new, high frequency traders, and i was invited in the clubbed become a new abuser. it was 20 minutes of work to fix these problems. but i've been chasing for half a year. and this guy could have just told me half a year ago. and the if he had told me much earlier, i probably probably wouldn't have crossed my mind how wrong it was. but i was so angry. you know, it's very clear to me that you either use the sheets or you were a victim. it was designed, there was no middle ground. you don't,

you cannot be innocent. once bo dick discovers the reason for his company's failure, he embarks on a last ditch attempt to save it. however, he is too late. trading machines into bankruptcy during the turbulence of 2010, and 2011. for the 1st time, i'm both, he's forced to confront the realities of high frequency trading. do you think the high frequency trading industry wants to say? well, we're using, you know, undocumented special order types and an obscure exemption and regulation and m m. s . to get to the top of the queue, know they're going to tell you they're faster than you. and that was, you know, that's the false flag let's say, or don't know, the right term is better, you know, the red herring speed is area of a red herring for that for, for

a lot of, of tricks that my industry has developed to get ahead of other people, the activities of the high frequency traders remain hidden from view for a long time. in 2010, something happens that suddenly lifts the veil at 2 32 pm on the 6th of may, 2010. the u. s. financial timing, company waddell and reed places, a huge buying order for forward contracts. valued $4100000000.00 using an automated execution algorithm. it is a huge order and extremely promising for high frequency traders. the money bought immediately begin to buy and sell at lightning speeds and without letting up share prices immediately begin to collapse. approximately 3500000 shares are affected and more than 200 companies lose their entire share value in the matter of minutes. nobody knows what is happening. 13 minutes later,

the chicago mercantile exchange is forced to stock trading. so much liquidity has been sucked down to the market, but it's in danger of total collapse. after breaking trading of 5 seconds, the market comes down again. the cause of the events of may 2010. he's never fully resolved. the largest flash crashed to date happens on the 5th of february, 2018. its impact is felt around the globe. and i think the fight in this country shop about, escaped, and fish could not even flash crash whistleblower. the boss committed it. one day i had the bank money petunia for the boss. because after voted with money for year and slash crash and vice for fuel doing farmers journey from the casinos to los alamos and on to wall street, eventually takes him to oxford. where he now studies stability in complex systems

like the financial markets. ah, i think part of what happens in flash crashes though we haven't got the flash crashes as well as we should. there are algorithms running and they're just reflexively doing something and they go on right? right on doing it. even though it would be better to stop because that's what their program to do, and they don't have time to think about it any more than that. running a trading system that literally cares about microseconds. that means you have to write code that's extremely spare. your signal hits your machine, your machine can at most print a few lines of code and then it has to make a trade. you have to do everything super quick. you can think about it pretty much . when i say you, i mean the machine can't think about it very much,

i do think we have to worry that as markets go faster and faster where opening up the possibility for an instability. as a result of the collective interaction of high frequency traders with other parts of the market. and we're doing that for no, no useful purpose. and the one thing if we were taking these risks, because it gave us something that was valuable, doesn't give us anything valuable. just makes a few people rich. and they get rich in a crazy way. they get rich by, you know, co locating servers next to the stock exchange and writing algorithms that trade on the instantaneous glitches of the other orders hitting the market. critics of high frequency trading, who spend years in brussels, trying to achieve key you wide regulation. the privatization of markets encouraged by the use 2004 method,

one directive results in stock exchanges having to look for new clients. a similar regulations did in the usa as a result, high frequency trading gains and increasing foretold in europe's markets, regulations pertaining to high frequency trading that were passed by the e u parliament, or overturn the last possible moment by the finance ministers in the comes with the european union 15 as a form of nonsmoker vinegar, tomatoes and field sweaters, and even done in constitute and to show what i don't think will you link again, be done with that. he's a by good title to move back. we'll decide patman to my 1000 to so if and she doesn't, so it's 1000 clients and he's a good deal to finance not really good. you know, i know you went to that scene. got. i had cars on the stuff, hopefully on 101 of your new device, the estimate would come the cut and the

e u. parliament agrees on a holding period of no point 5 seconds and a cancellation fee designed to restrict high speed trading. that is done about the sexual consider cliquish. i thought the meet the truck will happen. how do i get in touch with wasn't it wasn't on special to london. looks on bush police fun as it is. if you know what it is, we don't know what happened to him. i forgot to leave you in with him. if it comes in, it's nice to name. well not really hamlet deep for this or for like 500 new be acting like this is for the law was the hi this is mind. hold off, don't implement these and i and i in front of the ones who got sitting to give them to meet the truck and vans. if the interest in the lobby is crunch,

honda smith had financed marked illegal and plan a plan on thinking that we could spend titan, click on the relative name given them we can spend also, as i think it's all that as often as you can see, it on the satellite so that i as a caught in the pot on time if it's locked in 2012 the same year that the you start working on the method to directive home bow deck becomes a whistleblower in the usa. he has met with powerful opposition and the bankruptcy of his company affects him deeply. to me it's not about, you know, be possession right. and the status symbols to me 1st rejected. but then i realize at some point that you literally get paid in that you get more

opportunity. you get bigger bonuses if you want a boat, right? they tune your compensation, what they expect your demands are. that's how the business works. it's very, very difficult to play the wall street game and be modest. you are not rewarded for modesty. and i will say after a long period in the business, it did start to corrupt me. and the whistling was, was an amazing experience with and think i have been corrupted by the business. and i will tell you, one of the 1st times i realized that i was, was when i had to mow my own line. i live in an arrowhead where people don't mother on lines. so if you go and i know you're on line, it's noticed. and i will say that setting back

was liberating, but it took a lot longer than i thought it's disturbing. how much those symbols of status and wealth become essential to people feeling self worth me most of the retaliation was done through the industry quietly and. and you know, it was kind of a strange mix in that the people who were least supportive where the, where the victims is completely confusing. i thought that what i did was

providing information that would balance things and kinda repair the industry. but the victims were basically embarrassed. what investment bank wants to admit has been routing orders that have been abused for like 5 years by exchanges. high frequency traders what pension fund wants to admit that. right. so i didn't get the love for her from that side of the fence, but was very strange is i got a lot of attention from the high frequency traders, especially a high frequency training executives who kept trying to reach me back. i will say that the process made me respect the bad guys way more than the rest of the industry because they were actually right about the risks they were right about

the regulatory response. they pushed things to a level where they could manage it and they didn't go beyond it. there was one president of a large, high frequency trading firm that had multiple percent market share, 4 percent market share. and he told me, says, even if you tell everybody what we're doing, the buy site is so lazy, they won't read anything, they won't understand anything. they just won't do the work. you can just put it all out in a map and nothing will change. and i said to him, so we'll see about that. so year later, i'm at a conference where i debated him and after the conference i said, you're totally right. but anyway, worst over everyone saying i was like there's, i think over 500 pages in the federal registrar of changes and

documentation on features of exchange. it's, it's entire purpose was the level playing field. and i think the only people who really read it were library traitors pretty much because if you know some boys do homeless small, the lawn thought i machine in was so me la casita got machine a book, computer net good on google presented good on the machine at the regular can street so when i got into this business, i thought the whole point was to replace the old boys to get rid of it. and what i learned after 20 years is what we ended up doing. so we automated the old boys club. it's alive, driving, it's in the goes. we

understand the differences and similarities of culture across the world. no matter why you call. i'll bring you the news and current affairs. the algebra with the hello there, the threat of more severe storms looms over central parts of the u. s. this was the scene in kansas where a large powerful tornado damaged buildings in the northwest. we could see more of these, particularly as we head towards the weekend, but some has come early for many north eastern states, temperatures here, really soaring, and we could see some new record set over the next 2 days, particularly for atlanta is a challenge to a record set more than a 100 years ago,

and that he continues much of the east coast. new york at 33, washington could see a new record set as we go into thursday. but we've got those storms rumbling across the midwest, bringing wet weather to the great lakes, and go to weather system as well, affecting the western coast of canada, british columbia, seeing some wintry conditions there, as well as washington state. but further south things are looking rather fine and dry, if not hot, and it's a similar story for central america. fine and why from northern parts of mexico? the showers are in the south. you can see them building there. and panama in costa rica, seeing plenty of rain. by the time we get to the thursday. the a phase complex story without ordering a single word. and knowing going,

can guide a symbol times informa. the young conventionality of life. witness through the lens of the human eye. it's more than bias. witness documentary on our era. it's the case biggest hospital with eventual capacity for 4000 covet 19 patients built inside a london conference center. it took just 9 days to construct with the help of army engineers dramatically expanding the critical care bed count and other similar sites are under way the actual london numbers could be much higher than advertised researches say that huge gaps in testing capacity that the government is now trying to close, extrapolate that across the country and the spread of corona virus appears far wider than anyone thought.

ah, our goal is to give the palestinian people, including those guys, are a renewed sense of competence us extra site. on steve lincoln vows to help rebuilding garza relations with palestinian during a trip to shore up to see the other one money. this is alice is there a life said coming up.