Corporate buyback trades are ripe for being picked off by high speed firms, effectively siphoning millions of dollars from the companies.
" has set its sights on another arena where the fastest hedge funds drive up trading costs: corporate buybacks.
That's made corporate buyback trades ripe for being picked off by high speed firms, effectively siphoning millions of dollars from the companies, market participants have said. The software, called the IEX Signal, scans the other exchanges for patterns that indicate a stock will move against a client, according to"Say you were willing to pay $100 and our model detected that the price was about to dip lower," Ilyevsky said in a phone interview.
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