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Mark Cuban: rapid-fire trading is "biggest threat" to U.S.

Thursday, Feb 20, 2014 - 01:50

Billionaire entrepreneur and ''Shark Tank'' star Mark Cuban tells attorney Lyle Roberts high frequency trading on Wall St. poses the biggest threat to U.S. national security because it could be manipulated by a ''sovereign entity'' for destructive ends.

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Is there somewhere where you think. Yes these underage in other words it is that it is it -- -- priority for insider trading and they really should be -- properly resource the peninsula frequency trading. Without question. And law without question. It is the biggest threat to our national security in my opinion look at I wanted to blow -- this country. Only bombs I'd get some sovereign. You know if I was. There's some sovereign entity somewhere that says okay here's ten billion dollars. Here's another ten billion dollars just are trading and be nice to each other with these algorithms and then three years from now. I want you to screw up. Right and I wanted it's gonna happen so fast has to be so undetectable that people -- gonna say it's fat fat finger in the we're screw up again. And again and the next thing you know there's flash crashes down to limits you know the nine point 99% limits that are happy continuously often on off and on off and not. In milliseconds so -- so much confusion and people don't trust the markets. And then they pull out. But so. How -- trading high speed algorithmic trading that is geared towards millisecond transactions. Brings nothing to the market sound investment. Does bring capital market they -- bring -- does bring liquidity to market because they remove it whenever there's a threat to their algorithms -- what they're doing. You can't track it -- actually moving it from software into armed floating gate programmable raised his chip sets so you wanna be able to see it. And there's no way they're regulated so the market is at every second of the -- every millisecond. Millions of times per milliseconds of every day. And the other holding hearings and they're discussing -- and high frequency traders have just created their own association to lobby the but it's been going on since. I guess 2004 if you listen to them wrong. And they they they have no answer and.

Mark Cuban: rapid-fire trading is "biggest threat" to U.S.

Thursday, Feb 20, 2014 - 01:50

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