Latest NYSE Program Trading data out. After a major ramp up the week before, total program trading dropped again to 28.3% of total NYSE volume, but still higher than the 52 week average. The 15 most active member firms traded 1.8 billion shares for principal accounts, compared to 1.9 in the prior week. The top principal trader as always is Goldman Sachs, with 795.7 million shares, higher than the 741.7 million from last week.
So between Goldman controlling NYSE single-name program trading and dark pools, and JPM dominating ETFs (and prime brokering trades based on the decision of 1 gazillion teraflop processor cycles), we get a market that looks set to rehearse for the most recent Saw sequel. If anyone (whose name doesn't have 80x86 in it) is still left trading this you have our sincerest condolences.
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Thursday, June 11, 2009
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