Mark Simms
marksimms at verizon.net
Mon May 21 12:02:35 CDT 2012
Jim - that's very unlikely. This was a new system to handle new IPO's specifically. Likely written in Java or C due to the speed requirement. I'm guessing some idiot hard-coded that 5 millisecond interval...when in fact, it needed to be adjusted based on queue length or volume....or a combination. This theory would explain why traders didn't get confirmations for HOURS after being executed. Actually, this just on CNBC: they STILL HAVEN"T settled all of the trades as of today.