SpyGate detected 414 STT program trades on Monday which was about 300 more than the trading day before. An extremely busy day for bot trading. There were more sell programs than buys with the sells creating a $27B sell imbalance in terms of program trades. The total trade value for the day was a whopping $197B, an extremely busy day.
The AM session was quiet with just four sell programs and one buy program detected. The bot trophy goes to the final-2 hours of trading, where the buy bots outnumbered the sellers only to be clobbered by a massive sell at the close. This was the busiest day since SpyGate has been active. The closing-10 minutes goes from 15:50 to 15:58 and does not include the last minute of the day when the close matching takes place. The 9-minute window saw a massive 279 bot trades with a slight buy bias.
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SpyGate detects several different types of programs trades. An STT program is a simultaneous triggered trade. The detector looks for a basket of symbols trading at the same time. The price action around these detected trades helps us deduce if the program was a buy or a sell. Our detector reports the number of symbols in the trade, the number of individual trades executed, and the dollar amount of those trades.
What is SpyGate?
SpyGate is a proprietary tape reader that analyzes price action on all the exchanges and sniffs out unusual trades. The detector follows price action and accumulates adaptive knowledge using Machine Learning (ML) and Artificial Intelligence (AI) to recognize algorithms and program trades as they execute. The first implementation detects STT Programs ( Simultaneously Triggered Trades). These basket trades execute thousands of transactions in milliseconds. The transactions are in millions of dollars. This product is under heavy development and is currently available free for our traders in our Trade Chat trading room along with the MiM and live breaking news. You can join us by purchasing a subscription to the MiM.