Mysterious "dude" alarmed Turkey's stock exchange

11 March 2016, 19:28 | Markets
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Anonymous trader brought fear to the Istanbul Stock Exchange, making big bets and dispersing the annual turnover at the site, writes Bloomberg.

Investor Action, which other market participants are called "herif" (man), raised the average daily trading volume on the Istanbul Stock Exchange by almost eight per cent. For comparison, the decline on the Warsaw Stock Exchange amounted to 15 percent, and Moscow - 27.

Mysterious "dude" notice on the Istanbul Stock Exchange and a half years ago, when one day he opened a position in the $ 450 million, which is approximately two times higher than the market average.

Some traders suspect that an anonymous investor bets using algorithmic system based on complex formulas, and took advantage of the Istanbul Stock Exchange at the end of 2015 transferred the servers in a new data center to attract algorithmic traders.



Spreading exchange robots that implement the deal with the help of special algorithms, not just financiers led to criticism.

Opponents of such robots have noted that it is because of them occur in the markets have fallen sharply - for example, the Flash Crash of 2010 in the US or global recession in August 2015, triggered by the decline in the index in China.

Earlier it was reported that the largest net seller of gold from gold and foreign currency reserves of the country in 2015 turned out to be the Central Bank of Turkey.




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