Trading in picoseconds

[Iron]

Fair enough.

I enjoy posting - It's an opportunity to exchange ideas with intelligent people about things I'm interested in.

And it's nice to have some human interaction when you're working alone all day.

Jeff

Just because I don't enjoy every posts that everybody makes does not mean they are not good posts for someone else. Keep on keeping on m8. Don't know where you get the energy for it all though ! Pheew - tired just thinking about it ! LOL .

rg

[payuppal]

Perhaps the tone of my response could have been improved, but I was saddened to read the same kind of nonsense so regularly seen in the Betfair forum.

Anyway, here's a short list of reasons why Betfair do not cheat.

A radical devaluation of a £1.5 billion company

Catastrophic loss of personal reputation for the main Betfair players.

Probable criminal charges.

So a bit more than simply playing fair, as even a moment's thought would realise.

[freddy]

payuppal you couldn't make it up, your calling people sad loser ect when clearly you know very little about the history of Betfair .

Betfair do trade there own markets.

They have admitted they hedge there multiple's product on the exchange for a start.
Then there is the cross matching wich they make money out of , 300k of which was made before there customers were even told that cross matching existed .

and Im sure that is just the tip of the iceburg.

They are effectivly just a bookies now so they are free to get involved in the Markets as they choose.

[Iron]

Hi Freddy

I agree that they are legally free to trade on the exchange. I just hope that they keep the playing field level, and don't do things like High Frequency Trading...

Jeff

They are effectivly just a bookies now so they are free to get involved in the Markets as they choose.

[freddy]

But Isn't that what cross matching is
skimming money before any of it's customers can.

[payuppal]

They have not 'admitted' that they trade their own markets.

They have said they trade out multiple liabilities.

They have also said that they 'cross match'.

Neither of these is 'high frequency trading' or 'front running' or anything untoward.

But I learnt long ago that it is useless to argue with sad losers, so I'll leave this alone.

[freddy]

Well i could take apart everything you have just said but I learnt long ago that it is useless to argue with Children .

so I'll leave this alone

[Iron]

I'm not sure how crossmatching would enable them to do that. What's your line of thought?

I suppose they could take advantage of the fact that they know which money there because someone wants to back a particular horse, and which money is there because someone wants to back the whole field. But that would be a breach of trust which could have big repercussions...

Jeff

But Isn't that what cross matching is
skimming money before any of it's customers can.

[Iron]

Perhaps not, but if Betfair trade their own markets, it's a conflict of interest, just as it would be a conflict of interest for an accountant to buy shares in a firm he was auditing (even if he didn't use insider knowledge).

Jeff

PS You shouldn't use ad hominem attacks, or people might think you're a sad loser who lacks the emotional maturity to avoid playground tactics...

Neither of these is 'high frequency trading' or 'front running' or anything untoward.

[freddy]

Betfair made 300k cross matching in 6 weeks before any of it's customers even knew about it and god know how much since.

To me they are using there speed advantage to effectivly skim the markets.
Thats high frequencty trading to me.

The gambling commision have looked at it and it seems it ok as they are a bookies and it' s not a person to person exchange .

[enzabella2009]

Hi Ferru, one day you have asked me a question that I could not answear. I can` t tell you why I did not answear to your question but, I think in this post you have found the answear to your old question...I hope you understand..

[Iron]

*scratches head* Not really!

What was the question?

Jeff

Hi Ferru, one day you have asked me a question that I could not answear. I can` t tell you why I did not answear to your question but, I think in this post you have found the answear to your old question...I hope you understand..