algo

Some market participants and observers worry about the risks of an " algo " running out of control .

一些市场参与者和观察人士担心算法交易存在失控风险。

Then it is just a very simple algo using a few easy operations to reverse .

然后使用很简单很少的操作就可以完成逆向。

Once more investors and traders in the US equity market are left bewildered by another episode of an algorithmic or " algo " trading system running wild .

这起算法交易系统故障再次令美国股市的投资者和交易员感到无所适从。

Focus centred on an algo run by Knight Capital , an electronic market maker whose own shares had plunged more than 23 per cent to $ 7.92 in heavy volume by midday in New York after the problems were revealed .

人们的关注点落到了KnightCapital所运行的一种算法上。问题暴露后，这家电子做市商在纽约上市的股票到午盘时已放量暴跌逾23%，报7.92美元。

Algorithm experts in London said the two Norwegian traders seemed to have been using a " market-making " algo that post bids and offers out into the market , with the trader hoping to make money by capturing the bid-ask spread .

伦敦的算法专家表示，这两名挪威交易员似乎是利用了一种在市场上公开报出买价和卖价的“做市”算法，采取这种算法的交易员希望通过捕捉买卖价差获利。

In total at least 40 of the 148 stocks affected by the Knight trading algo experienced a change of more than 10 per cent , as circuit breakers do not start operating until 15 minutes into the trading day and reflect volatility , not order flow .

受Knight算法交易影响的148只股票中，至少有40只股票的股价波动幅度超过了10%，因断路开关机制在开盘15分钟后才投入运行，而且该机制反映的是股价波动性，而非指令流量。