that same bank asked me so many jvm internals questions and then wanted to pay me an extremely paltry sum
In 2004 [a big investment bank I worked at] had a high frequency liquidity taking FX strategy where the only signal was order book imbalance, and it made *a lot* of money.https://twitter.com/quantian1/status/1376901887245615110 …
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Isn't not having worry about internals the whole point of JVM
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crypto is probably the closest equivalent of that now (though who knows how long that will last). a few years ago it was trivial to trade across exchanges for substantial profit.
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beep boop
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In 2010-13 I crossed our dealers (5 of them) in the sov CDS market daily. Couldn't lose and they wanted our biz so nothing they could do. Cash cow
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Single name sovs that is....couldn't do that with CDX IG/HY as you could trade those electronically via BBG.
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One of the reasons I'm looking at the DM-y Asian countries as a side project. As much liquidity as you'd like, but a massive difference in sophistication compared to the US. Still some prop traders trading massive size by drawing lines on a chart and filling orders manually.
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Can confirm Asia FX MMs in NY are addicted to drawing incoherent lines on charts....
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Around that time, my mentor was working in MS said the same regard FX. He said he used a joiner MM strategy. Printed money...
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You could do simple ES fair value arb back then without needing your own fiber too
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