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8/13/2009

The Dark Side beckons

That's the heading in the Today paper on the new trading system called the 'Dark Pool' to be introduced by the SGX. The system is to provide secrecy in trading so that big trades can be done without anyone knowing till they are done. Did we say transparency is good? Welcome to the darkside. It is better to do things in the dark than to be transparent. How many more things are done in the dark, or done without the knowledge of other players, giving those doing it an advantage over those kept in the dark? PS: More articles posted in Singapore Alternative News from Europe and America on the perils of Dark Pool. Related: SEC spotlight puts "dark pool" venues on defensive - Reuters 'Dark Pools' Threaten Wall Street - The New York Sun Europe to review ‘dark pool’ trading - Financial Times The rise of dark pools - attack of the clones - The Economist How Dark Pools Help Traders Cheat Transparency - Andymatic.com Singapore Exchange, Chi-X to form dark pool trade plat - Reuters Posted by singaporenewsalternative at 7:50 PM

10 comments:

Anonymous said...

Ignorance is bliss ! To do things in the Dark and or not to know what is done and happened in the Dark will enhance the Bliss, or so it seems.

patriot

redbean said...

Another case of anything coming from the West must be good. Just imitate. Cannot go wrong. No thinking required.

Matilah_Singapura said...

WOW! Secrecy for privately-owned public companies - protected and defended by government.

Redbean is dreaming of the old days - where 'honesty' and 'integrity' were not just admired but the expected standard.

Nowadays the expected standard is to see who can be the most 'creative' in the mystical arts of 'how to screw people legally' and thus 'legally' separate the unsuspecting and unwary of their cash.

Genius. Pure genius.

Matilah_Singapura said...

What's more, if you are a -- let us say for argument -- corrupt govt official. Of course we all know such type of people don't actually exist, but for the sake of argument, let's just 'suppose'.

Because of your rank, big towkays will now 'invite' you to 'tompang' with them on their trade, and thus profit handsomely from the huge market movement the trade will probably trigger. But before anyone in the stupid, gullible, hardworking, essentially good-people public finds out about the huge trade which will move the price, your rich buddies and you are already ready to short the stock and hopefully the public small-time 'losers' will surrender their hard and honestly earned dollars over to you in the legal trade.

WOW! It is worth considering getting a highly paid govt job.... but before you allow your hallucination to continue, remember folks,, as far as we know, all govt officials are honest and beyond reproach. They would NEVER do such dishonest and evil things.

Anonymous said...

Transparency is just another meaningless word in the world of the darkside. Beware or be eaten! Raw!

redbean said...

when you see only goodness, the world is full of goodness.

Jaunty Jabber said...

They tell you that they are going to do that, this is their definition of "transparency". At least they are transparent now to tell you, gracious Singaporean should thank them.

Wally Buffet said...

WTF are you talking about?

If you can't stand the heat, get out of the kitchen.

redbean said...

wally, i think you are the one that is feeling the heat here. cool down, or you want to pack up like you say and go to cooler place like toc or lucky's blog? oops i mean p65 : )

redbean said...

nowadays we are not sure which is the dark side and which is the side of light. the dark side claims to be the light and the light is painted as the dark side.

do i make any sense here? or put it another way. righteous is branded as evil and evil is paraded as righteousnes!

the mask will fall off one day.