The good days of high-frequency trading are not for a few years.

But in 2003, high-frequency traders were still in the stage of making a fortune in silence.

This can be seen as a game of smart people.

Wall Street companies, mathematicians who spend tens of millions of dollars a year, are rewarding shareholders in this way.

It can be said that high-frequency trading is the first time in the history of stocks, futures trading, and financial derivatives trading that the secret of making money and not losing money is really true.

If the market is compared to a casino, then high-frequency trading is the undefeated gambling god.

There are many ways to make a profit, but in general, it's about taking advantage of the spread. The duration of such spreads is measured in thousandths of a second, one hundredth of a second, and the amount of profit is often only 1 cent.

However, the existence of the spread makes supercomputers running millions of times per second, and mainframe computers are excited like monkeys in their menstrual periods.

For the same stock, there will be a difference in price at some point within the exchange. So make money.

There will be price differences between different exchanges for the same futures. So make money.

There will also be a price difference at the moment when the same order is split into a small order. So make money.

The smartest man in the world, 50 years after the invention of the computer, has finally turned it into a money-making machine, into a super money printing machine.

Of course, any moneymachine has its end-of-life period, and in 2003 it still had a lot of energy and even a certain amount of praise.

For the political axe, the large number of transactions increases the vitality of the market and increases the economic mobility; For exchanges, high-frequency trading enhances their competition with other exchanges; For other traders, high-frequency trading makes up for the price difference between the two sides and reduces costs; For high-frequency traders, making money is not a hard time.

In order to attract high-frequency traders to their exchanges, major stock exchanges, including the New York Stock Exchange, also give them rebates - in terms of time, it should be the rebates of stock exchanges, which gave rise to high-frequency traders, and the latter in turn prompted the former to give more and more rebates.

As the world's largest exchange, the NYSE has a rebate figure of 13 cents per 100 shares, while the CBSX (Chicago Board Options Exchange Stock Exchange) has a rebate of 19 cents.

Before the political axe was stopped, a large trader such as Getco, which traded 1.5 billion shares a day, would have rebates in excess of a million dollars even if they didn't make any money from the market.

Even those software companies, computer companies, have joined the camp of high-frequency traders, and they have widely marketed their products to major banks and funds.

Therefore, Chen Yi casually searched on the Internet, and saw dozens of service providers that provide corresponding software outsourcing, and selected one of the famous contacts, and immediately got a warm reception, and even two or three wanted to send contact engineers to provide door-to-door service.

In addition to being surprised, Chen Yi couldn't help but think more comprehensively.

He first asked his mother for a sign of a subordinate foundation—just a name—and then followed the French branch to ask.

Large-scale software outsourcing is lucrative, and the enthusiasm of each company is naturally proportional to it, Chen Yi first invited several companies by phone, and finally preliminarily selected Xinbiyou, which has many branches.

This is one of the largest software service outsourcing companies in the United States, and in addition to their ability to complete the task of retrofitting supercomputer software, they are valued because they can accept relatively harsh conditions such as absolute confidentiality clauses and longer installment deferrals.

While many European and Asian companies can offer similar terms, Chen Yi's choice is naturally biased given the degree of compliance with the contract.

After the phone contact, they agreed to meet in Paris, and Chen Yi continued to deal with the affairs of the college entrance examination, and at the same time couldn't help chatting with his old classmates.

The main thing is to make sure that everything is fine with Luo Xiaoshan.

It's been three days since I finished doing that.

Chen Yi lazily rushed early, got up at about 12 o'clock, ate a fragrant breakfast at 14 o'clock, and then took the money to the street to sweep the goods.

His main targets were perfumes and natural botanical essences, which were expensive but lightweight, and although they were inferior to paper, they were better in terms of time efficiency.

After buying a suitcase of bottles and cans, Chen Yi went out under the envious eyes of a group of girls and went to the paper supermarket on the outskirts of the city.

Boss He of the supermarket has long been familiar with this young man of the Chen family, and when he saw him, he smiled and said, "Do you want something fresh this time, or do you want another one as it is?" ”

"I'm going to look for you to study this time." Chen Yi said, taking out a small notebook.

Every time he traveled to the kingdom of San Chio, he would keep a record of the paper he bought, and the final grading of the paper, and after such a long period of recording, he himself figured out some patterns. But these laws are, after all, relatively simple laws, not definite principles. As his consumption of scrolls and potions increased, he wanted to increase not only the purchasing power of paper, but also the power of the kingdom of San Chio.

As Timothy said, the kingdom of San Chio is not the strongest country in that magical continent, they have enemies, their trade is restricted, and their borders are blocked.

If you want to get a treasure scroll like skill copying, in addition to waiting for good luck, it is a good choice to increase their war potential.

"I'll see." Boss He was accustomed to Chen Yi's strange requests, and looked at the small book as if he were in the sky.

"At the front is the time of purchase, then the name, and then its rating. I'm going to set the rating, and you'll see what rules you can figure out, or if you don't. ”

When Boss He heard him say this, Xiao Ben understood it, but he couldn't understand it completely.

He said with a bitter face: "Mr. Xiao Chen, don't you want to create your own paper to grade it?" ”

"Anyway, just like mine, you see what price you need, and how long will it take to get it?" Chen Yi didn't explain at all, there are many strange people in the world. Give the boss 10 heads, and he can think of the cult as the limit.

"This ......" I heard that there was money to be made, Boss He gritted his teeth and said: "For the sake of the old customers, 10,000 yuan, I will help you create your own grade." ”

Chen Yi directly took out a stack of cash to him, then took out another stack and put it on his side, and said, "Get it before dinner, add another stack." ”

"I'll look up some books later." The boss's profit in a day is definitely not 10,000 yuan, so there is no hesitation.

After a while, Boss He took out several booklets, spread them out on the counter, and copied them down one by one for comparison.

Although he is a little greedy for money, the boss himself has some real talents and knows a lot of paper things.

Chen Yi brought the records to him, and he also valued the few pieces of equipment he purchased - among businessmen, it is not easy to spend money here.

Paper supermarkets in the suburbs do wholesale business, and there are far fewer people coming than ordinary supermarkets. In a space of hundreds of square meters, the sound of flipping books can be heard.

Chen Yi wandered around inside, touching this for a while, rubbing that for a while, thinking in his heart: If Timothy and the others came here, they might have to kneel down and chant something.

Boss He suddenly said "Huh".

"What's wrong?" Chen Yi ran to the counter like a mouse with a burning tail.

Seeing Boss He, he licked his lips and said, "Your classification is really interesting." ”

"Tell me?"

"First of all, what you indicated as 0 is all messy paper, and there are a lot of chemical additives, etc., and it doesn't have to be made of any pulp, wood pulp, bamboo pulp, grass pulp, and it's a mess." Boss He said and nodded on the table, and said: "You are classified in 1 to 3, there are fewer chemical raw materials, generally a single pulp, or bamboo pulp, or wood pulp, grass pulp is still relatively small." For these 4 to 6, you need to check the book. ”

"Uh-huh, you say." Chen Yi was devout as if he were worshipping.

"The number of 4 to 6 is small, I took a closer look, and the wood fiber turned out to be pure."

"What does that mean?"

"It's made from the same kind of tree, and the craftsmanship is good."

Chen Yi said incomprehensibly: "Shouldn't all the 'wood fibers' of all paper be the same?" It's wood fiber. ”

"Of course it won't be the same." Boss He shook his head slightly, and said: "Whether the factory buys wood pulp or makes its own wood pulp, it is a mixture of many trees, if a small workshop buys raw materials in the market casually, or uses leftovers to process, it is not strange that the origin is from Canada to Indonesia." In addition, you should note that the broad-leaved forest pulp and coniferous wood pulp we often talk about include countless sub-categories, such as oak, beech, and birch, and each category can also be classified. Your paper that shows 456 is almost a single type, for example, all birch. ”

"What about level 7?"

"Maybe it's made from the same tree?" After Boss He finished speaking, seeing Chen Yi's serious appearance, he had to wave his hand and say, "I'm joking." I think it's better to make paper wood. ”

The concept of good paper is too broad, Chen Yi asked again with wide eyes.

Boss He simply said it carefully as if he was teaching students.

In fact, it is easy to figure out, among the raw materials for making paper, the raw materials with a short growth year are naturally the cheapest. For example, straw pulp is cheaper than bamboo pulp, which in turn is cheaper than wood pulp.

In wood pulp, broad-leaved forests grow faster and are less dense than coniferous forests. However, in most raw material factories, due to the limited distribution of resources, they do not waste time sorting out the same trees and throwing them into the machine, but throwing them into the machine.

Boss He's purchase channels are wider, and some of the paper comes from small factories, but the raw materials are easier to prepare and relatively pure.

And the paper that can be used to make scrolls is, firstly, purer paper, and secondly, paper with more wood fibres - in simple terms, a single paper that has grown for a longer period of time.

After understanding this, Chen Yi listened to European birch, black cherry, beech or masson pine, which was much more pleasing to the ear.

While playing the paper, Chen Yi said: "Boss He, then trouble you, prepare some pure good paper for me, and I will take it all." ”

"Young Master Chen." Boss He's chubby face was distorted, and he said half-jokingly: "The paper produced in the small factory is also divided into three, six, nine and so on, I really don't know their materials, don't you mark the numbers, there are a few lucky ones, the raw materials are together......"

When producing paper, the raw wood pulp is often imported by ship, and who can guarantee that the same material is used for each piece of paper, even pure wood. In fact, a slightly cheaper paper does not necessarily use wood pulp, and it is even more appropriate to add various compounds.

Chen Yi tilted his head and thought about it, it seemed that this was indeed the case.

But he had a new solution, and immediately smiled: "Boss He, then use your equipment in the backyard to help me go through all these papers, pure and good, yours will be divided, and then I will buy it with 10 times the normal price?" In addition, we will discuss with the factory where you purchase the goods and specialize in the production of one batch. ”

Boss He's wry smile stiffened, and his head shook as if he had been **three years, and said: "Mr. Xiao Chen, this really can't be done, not to mention wasting instruments, you can't afford time alone, a batch of goods will make you wait for half a year, what are you doing?" ”

"Then measure batches of goods, and there must be 4-6 for each knife." Chen Yi raised four fingers and said, "Four times the price." ”

"Okay." For the sake of the price, Boss He still laughed after speaking.

……

Chi Tori Dolphin: Today's second update, a solid 3,500 words.

……