Quote from: TraderTimm on June 04, 2011, 08:30:22 PM

Quote from: cypherdoc on June 04, 2011, 08:17:24 PM

this proves my pt about why dark pools should be disallowed. all it takes is one person with superior knowledge to destabilize the level playing field. MagTux is the only one who has the complete view of all orders and this is enabled by the dark pools. (this is not an allegation against him at all)

Well, in the spirit of open competitiveness, shouldn't the market decide? If you don't like it, trade somewhere else or start your own exchange. Trading in large volumes with partially open books or not doesn't make a market any less 'stable' or 'gamed'.

I don't know how you can squeak by on 'no offense' when you make a statement like "MagTux is the only one who has the complete view of all orders". So, what are you implying? He's 'working' the book now for his own benefit? I mean, dude, really? It makes no sense. Why would an operator of an exchange do that when the potential risk is lack of trust in his exchange? Nobody would take that kind of risk if they wanted to stay in business, period.

ah, so i am the parent. fine, i'll start by teaching u to read. i said i was not accusing him of anything Dude. in fact, i vouch for him since he's treated me very well. don't turn this into something btwn him and i. guys like u who don't want to listen to others arguments always try to make it personal. my pt was that theres the "potential" for him to manipulate, not that he is. there are many articles about how the major investment banks don't wish to give up their OTC derivatives desks and move to an exchange b/c they have superior information, ie, they can see what customers are doing which gives them an advantage and is a major source of skimming.

given your nick i would bet you use the dark pool yourself don't you and like its advantages? guys like you who don't want to acknowledge this always say well "if you don't like it, go trade somewhere else". what were trying to argue here is whether its fair, ok? the fact that dark pools exist allow certain players to have superior information.