Posts Tagged ‘security’

High-Frequency Trading: Something Black?

High-Frequency Trading: Something Black?

Courtesy of Karl Denninger at The Market Ticker 

Now this is interesting, coming from the annual "black hat" conference in Las Vegas (for those not involved in the computer security world, that’s an annual gathering of hackers where various presentations are made that amount to brags and bags that have or can be run on various parts of information technology):

Among the talks conspicuously absent from this year’s schedule: a presentation exposing security vulnerabilities in banks’ high-speed trading systems.

The talk, planned by security researchers Varun Uppal and Gyan Chawdhary, would have dealt with methods for hiding risky unauthorized trades in high-speed trading applications, as well as demonstrating a "sniffing" software tool capable of siphoning trading information to a faraway hacker to allow a high-tech form of real-time insider trading. But Uppal tells us that the talk has been cancelled after concerns were raised by a financial industry client of the security auditing firm he works for, Information Risk Management.

Methods eh?

I suppose we’re supposed to believe that this is all theoretical, right?

Oh, somehow I doubt it.

And why?

Well, it wouldn’t have anything to do with firms intentionally ignoring security capabilities for reasons of SPEED, would it?  (Note that encryption, in particular, is rather slow comparatively.  Plain text is of course very fast.)

While security measures for FIX programs are available, Uppal says he’s audited firms that ignore them for convenience or speed. Uppal says that could allow a hacker to monitor a bank’s trades and make near-simultaneous ones, or even steal a bank’s unique trading algorithm.

Oh, they would do that.  That’s very nice.

New?  Oh no.  It’s not new either

In a 2007 Black Hat presentation, David Goldsmith and Jeremy Rauch of Matasano Security listed systematic problems with the security of high speed trading systems such as the difficulty of encrypting trade data and banks’ reluctance to add any security that might slow down the transactions,

Right.  Speed before security.  Engage in an arms race and if someone else gets unlawful advantage as a consequence of your refusal to follow best practices, well, that’s too damn bad.

Let’s contrast that with what happens in the Interbank (e.g. Visa, MasterCard, Discover, etc) networks.  There if you store unencrypted cardholder data (it’s faster and easier!) or if you use unencrypted transport between…
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Gathering Clouds

Here’s a very good assessment of the Google-China conflict by Nicholas Carr writing in The New Republic.

Gathering Clouds

Cebit Technology Fair

Google is being widely hailed for its announcement yesterday that it will stop censoring its search results in China, even if it means having to abandon that vast market. After years of compromising its own ideals on the free flow of information, the company is at last, it seems, putting its principles ahead of its business interests.

But Google’s motivations are not as pure as they may seem. While there’s almost certainly an ethical component to the company’s decision—Google and its founders have agonized in a very public way over their complicity in Chinese censorship—yesterday’s decision seems to have been spurred more by hard business calculations than soft moral ones. If Google had not, as it revealed in its announcement, "detected a highly sophisticated and targeted attack on our corporate infrastructure originating from China," there’s no reason to believe it would have altered its policy of censoring search results to fit the wishes of the Chinese authorities. It was the attack, not a sudden burst of righteousness, that spurred Google’s action.

Google’s overriding business goal is to encourage us to devote more of our time and entrust more of our personal information to the Internet, particularly to the online "computing cloud" that is displacing the PC hard drive as the center of personal computing. The more that we use the Net, the more Google learns about us, the more frequently it shows us its ads, and the more money it makes. In order to continue to expand the time people spend online, Google and other Internet companies have to make the Net feel like a safe, well-protected space. If our trust in the Web is undermined in any way, we’ll retreat from the network and seek out different ways to communicate, compute, and otherwise store and process data. The consequences for Google’s business would be devastating…

Full article here.>>

 


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Zero Hedge

Toshiba Shareholders Vote To Oust Chairman In Rare Blow To Management

Courtesy of ZeroHedge View original post here.

Rebukes of corporate leaders in Japan are rare, but on Friday, shareholders of Toshiba - one of Japan's most important and most well-known tech giants - voted to oust Chairman of the Board Osamu Nagayama (along with a member of the board's audit committee) after an independent investigation uncovered that the company had wrongly colluded with other insiders to try and influence last year's board selection.

The vote comes just months after Toshiba investors backed Singapore-based hedge fund Effissimo Capital Management's call for a probe into the 2020 annu...



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Phil's Favorites

The PhilStockWorld com LIVE Weekly Webinar 06-23-2021

 

For LIVE access on Wednesday afternoons, join us at PSW! 

The PhilStockWorld com LIVE Weekly Webinar 06-23-2021

 

Major Topics:
00:00:13 - Checking on the Market
00:00:33 - DJIA
00:03:16 - S&P 500 / Russell 2000
00:04:43 - Bitcoin 
00:08:21 - Natural Gas / Energy
00:11:25 - Gasoline / Crude Oil
00:12:34 - EIA Report
00:18:44 - Inflation
00:24:28 - Natural Gas
00:28:26 - Lumber
00:29:38 - Sugar
00:30:16 - Orange Juice
00:31:36 - Cotton
00:31:54 - USD / Orange Juice
00:34:08 - Coffee...



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Biotech/COVID-19

The FDA's weak drug manufacturing oversight is a potentially deadly problem

 

The FDA’s weak drug manufacturing oversight is a potentially deadly problem

Though drug recalls are relatively uncommon in the U.S., reduced inspections increase the likelihood of manufacturing errors that slip through the cracks. AP Photo/Rafiq Maqbool

Courtesy of Adrian V. Hernandez, University of Connecticut and C. Michael White, University of Connecticut

The ...



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Digital Currencies

Will Bitcoin Crash the Stock Market?

 

Will Bitcoin Crash the Stock Market?

Courtesy of 

When the S&P 500 fell in March last year, it brought Bitcoin down with it. So if stocks can bring down Bitcoin, it’s reasonable to ask if Bitcoin can bring down stocks.*

If you thought the Bitcoin run-up to 60k was emblematic of investor** euphoria, then you probably wondered what would happen if it were to come crashing down. Would that take other high-flying areas of the market down with it?

It might be premature, but as of now, the answer is no.

...



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Chart School

RTT Plus Bulletin

Courtesy of Read the Ticker

RTT Plus private blog answer these questions over the last two weeks.

Ending: 2021-06-19

- Metal stocks very bullish after gold smash
- FED taper talk vs Basel 3
- Dollar devaluatioin before end of 2021
- COVID, Vaccine insight (off topic)
- The next play for the deep sate (off topic)
- The debt loaded USA can not break these economic stats


RTT Plus membership required to review.

RTT Plus members can include chart building services if you wish. If you you do not want chart building services select 'RTT Plus' only during the membership sign up process.

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Politics

The Ukraine Fallacies (with Victor Rud)

 

The Ukraine Fallacies (with Victor Rud)

Americans are confused about the history of Ukraine. That's just how Russia wants it.

Courtesy of Greg Olear, at PREVAIL

Greg is the author of Dirty Rubles: An Introduction to Trump/Russia 

...

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Promotions

Live Webinar with Phil on Option Strategies

 

June is TD Bank's Option Education Month, and today (Thursday, June 10) at 1 pm EST, Phil will speak with host Bryan Rogers about selling options and various option strategies that we use here at Phil's Stock World. Don't miss this event!

Click here to register for TD's live webinar with Phil.

 

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Kimble Charting Solutions

Crude Oil Cleared For Blast Off On This Dual Breakout?

Courtesy of Chris Kimble

Is Crude Oil about to blast off and hit much higher prices? It might be worth being aware of what could be taking place this month in this important commodity!

Crude Oil has created lower highs over the past 13-years, since peaking back in 2008, along line (1).

It created a “Double Top at (2), then it proceeded to decline more than 60% in four months.

The countertrend rally in Crude Oil has it attempting to break above its 13-year falling resistance as well as its double top at (3).

A successful breakout at (3) would suggest Crude Oil is about to mo...



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ValueWalk

Managing Investments As A Charity Or Nonprofit

By Anna Peel. Originally published at ValueWalk.

Maintaining financial viability is a constant challenge for charities and nonprofit organizations.

Q4 2020 hedge fund letters, conferences and more

The past year has underscored that challenge. The pandemic has not just affected investment returns – it’s also had serious implications for charitable activities and the ability to fundraise. For some organizations, it’s even raised doubts about whether they can continue to operate.

Finding ways to generate long-term, sustainable returns for ...



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Mapping The Market

Suez Canal: Critical Waterway Comes to a Halt

 

Suez Canal: Critical Waterway Comes to a Halt

Courtesy of Marcus Lu, Visual Capitalist

The Suez Canal: A Critical Waterway Comes to a Halt

On March 23, 2021, a massive ship named Ever Given became lodged in the Suez Canal, completely blocking traffic in both directions. According to the Suez Canal Authority, the 1,312 foot long (400 m) container ship ran aground during a sandstorm that caused low visibility, impacting the ship’s navigation. The vessel is owned by Taiwanese shipping firm, Evergreen Marine.

With over 2...



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The Technical Traders

Adaptive Fibonacci Price Modeling System Suggests Market Peak May Be Near

Courtesy of Technical Traders

Our Adaptive Fibonacci Price Modeling system is suggesting a moderate price peak may be already setting up in the NASDAQ while the Dow Jones, S&P500, and Transportation Index continue to rally beyond the projected Fibonacci Price Expansion Levels.  This indicates that capital may be shifting away from the already lofty Technology sector and into Basic Materials, Financials, Energy, Consumer Staples, Utilities, as well as other sectors.

This type of a structural market shift indicates a move away from speculation and towards Blue Chip returns. It suggests traders and investors are expecting the US consumer to come back strong (or at least hold up the market at...



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Lee's Free Thinking

Texas, Florida, Arizona, Georgia - The Branch COVIDIANS Are Still Burning Down the House

 

Texas, Florida, Arizona, Georgia – The Branch COVIDIANS Are Still Burning Down the House

Courtesy of Lee Adler, WallStreetExaminer 

The numbers of new cases in some of the hardest hit COVID19 states have started to plateau, or even decline, over the past few days. A few pundits have noted it and concluded that it was a hopeful sign. 

Is it real or is something else going on? Like a restriction in the numbers of tests, or simply the inability to test enough, or are some people simply giving up on getting tested? Because as we all know from our dear leader, the less testing, the less...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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