#commmodities

"But new strategies had to be developed as small investors and the public became aware of what appeared to be a rigged game. The programmers like William, began to explore how algorithms might be used to trade in-between individual trades, profiting on the tiny increments of a price movement, with millions of trades occurring over a few milliseconds. It worked. A program could execute a million trades on a quarter of a penny shift in price, and make a fortune, if done several hundred times a day. This left the bank to profit in a shadow. They no longer needed media stories to move prices. Instead they could rely on the pure scale of the number of trades they could execute."