Chapter 961 Big Avalanche (7)

   "Successful?"

In Zekang's office, after seeing the index start to fall, Xu Fei still couldn't believe what he saw, but soon there were panicked escapes on all stocks, which made him realize that the market was indeed as he expected. It has reversed as before. Although the regulatory authorities have issued several heavy positive news, it has not stopped people's confidence in the turmoil.

   "Successful!"

The index plummeted by more than 300 points, and the number on stock index futures was even greater, especially on IC contracts, which exceeded 500 points. Let the market crash. It's just amazing, amazing!"

  He said "magic" twice in a row.

   "This is just a means of extraordinary times."

After finishing the operation, Chi Zhengyi began to tidy up everything in an orderly manner, took the tools and prepared to open the case, "But this method cannot be used frequently, once it attracts the attention of the exchange, it will be bad. In the European and American markets, there are special To capture high-frequency transactions, the communication tool they use is military microwaves, and the transmission speed is faster than optical fibers. If they are self-defeating once captured by the other party, the consequences will be disastrous."

"what are you doing?"

  Zhou Changan's eyes fell on Chi Zhengyi's busy hands, and he asked in great surprise, "Why are you planning to disassemble the computer now? This...what's going on here?"

   "I want to remove the hard drive, and then optimize my model after taking it back, so as to be able to operate more stocks at the same time."

  Chi Zhengyi also looked at Zhou Changan strangely, and then looked at Xu Fei meaningfully after a while, and said slowly, "I can't take the whole chassis back, can I? Are you right, Mr. Xu?"

  Although he talked about optimizing the model, he actually had another purpose, that is, to hold the model firmly in his own hands, so as not to be copied and deciphered by others.

  Among all programmatic hedge funds, the model that can make money is the core secret, so there must be no leakage. Even if it is leaked, the core data in it will be changed immediately, and the original model will be used as an attack target in the market.

  Renaissance Technology, the world's top programmatic trading hedge fund, once had a similar thing happen. Two mathematical geniuses from Russia joined Renaissance Technology and participated in the creation of a very profitable programming model. But later, after the two resigned from Renaissance Technology, they re-copied the model based on their original experience, but immediately lost their magic power and became worthless. This is why the core data and the entire operating mechanism have been changed, and such models have been sniped.

  Although they helped Xu Fei, neither Chi Zhengyi nor Luo Tian had the slightest intention of transferring this model to the other party.

   "Not as good as..."

Xu Fei knew this well. When he was about to ask to buy this model, he gave up after thinking about it. He knew very well that this model could only be used at critical times, and there was a great risk of exposure. It's completely useless to him right now.

  He didn't speak, so Zhou Changan naturally couldn't say much. The two could only watch helplessly as Chi Zhengyi and Luo Tian disassembled the case and took the hard drive out in a grand manner.

"what should I do now?"

   After finishing all their work, the two greeted Xu Fei and Zhou Changan, and left in a calm manner. Looking at the backs of the two leaving, Zhou Changan sighed and said to Xu Fei, "Mr. Xu, don't mind, they both have this kind of temper, I have learned it a long time ago. If it wasn't for them to have some money-making skills , I told them to leave early in the morning!"

   "Haha, only capable people have a temper!"

  Although he was unwilling, Xu Fei still showed his extraordinary bearing, "Forget it, don't worry about them, we will continue with our own business. Even if we leave them, we will still make our own money."

   "Okay, gentlemen, let's have a meeting!"

Clapping his palms twice, Xu Fei shouted to the traders in the audience, "Although we have achieved our goal with the help of some high-tech things. But this is not our style. Zekang has us making money on our own." The core secret, that is everyone present here. Everyone, please clean up first, and we will have a meeting in the conference room in five minutes to discuss the market situation on Friday tomorrow."

"I…"

  Zhou Changan was a little hesitant. He really wanted to participate in this meeting, but he was also worried about his status as an outsider, so he couldn't help asking, "Can I also participate?"

"you?"

  Xu Fei looked at Zhou Changan with great interest, and clearly caught the ardent expectation revealed in the other person's eyes. After thinking for a while, he nodded, but he still warned, "You can watch, but don't make a sound."

  Zhou Changan showed joy and nodded heavily.

  Five minutes later, Zekang's conference room was full, and the traders were quietly waiting for Xu Fei to start. No one whispered to each other. This atmosphere made Zhou Changan feel inexplicably nervous.

   "I believe everyone has seen today's market. The market has reversed throughout the day. It is very obvious that it first rose and then fell."

Xu Fei, who was sitting in the middle, pondered for a moment, knocked on the table and said slowly, "Everyone should be curious, why is there such a market? Also, what is the high technology I just mentioned? I will tell you now What exactly is going on."

"The two traders just now are high-frequency traders recruited by Mr. Zhou from overseas. I believe everyone is familiar with high-frequency trading. The model they just made is to give the exchange a very short period of time. Sending a large amount of transaction order, which leads to a rapid rise or fall in the stock price, everyone should be very clear about the operation mechanism of the matching transaction. This is the reason why a large amount of buy or sell orders will clear the orders above or below the price in an instant. "

"But the difference is that this transaction will not be actually closed. The magic of high-frequency trading is that it can change the stock price in the fastest time, but it will not actually be closed. Because in the exchange Before the transaction order is issued, these entrusted transactions will be withdrawn quickly, forming a false market trend, which is the whole reason why you see the stock price falling rapidly."

  “This program is revolutionary and subversive, but similar situations appear in the market again and again, and they will definitely be noticed by the regulators. In the future, they will plug such a loophole sooner or later.”

After looking around and taking in all the traders' reactions, Xu Fei nodded with satisfaction, and then said sharply, "So gentlemen, a program can only be a program, and it will never replace your intelligent brain. Only the Ingenuity and programming are used to their fullest power."

   "Now enter the formal discussion agenda, has anyone told me what to do tomorrow? By the way, this program will continue to be used tomorrow."

  The reason why Xu Fei added such a sentence is to tell everyone present that tomorrow is still bearish.

   "There must be a plausible explanation for today's weird market conditions."

A tall trader with a square face stood up and said loudly, "If we continue to use it, I'm afraid it won't have the miraculous effect it has today. Or even if it does, it won't be as effective as it is today." exaggerated. So we have to create another kind of emotion to cooperate with this program to maximize the impact on the market.”

   "Cheng Zhonghua, what's your opinion?"

Hearing what the trader said, the others nodded in unison. This was indeed the case. Xu Fei asked by name, "I know you said that, so you must have an idea in your mind. Tell us your opinion and let everyone refer to it." .”

"it is good!"

The trader, who was probably in his thirties, nodded, and then said loudly, "The stock index plummeted from 4700 points to below 4500, and there was a spectacular situation where a thousand shares fell by the limit. In the next two trading days, the positive stimulus and After the rebound, it returned to around 4700 points. This looks like a short surprise attack. If we hadn’t disrupted the situation today, maybe the stock index could really return to its original position.”

   "Unfortunately, we changed everything, and today's index plummeted again. Think about it carefully, everyone. Although there are various good and bad news in this process, who is the most affected group?"

  He posed a serious question, and everyone couldn't react for a while, they collectively became speechless, and fell into deep thought.

   "I have some news here, please refer to it."

Cheng Zhonghua held up a piece of paper and said, "Everyone should know that there will be 28 newly listed companies in the next week, and tens of billions of funds will be frozen; newly opened securities accounts will drop by more than 30% month-on-month; News that may affect the stock market in the near future, such as the possible listing, the continued decline in the crude oil market, etc. There is also another market speculation, that is, the RRR cut. But until the news is not confirmed, we will not consider this news for the time being.”

  “Although there are so many news, there is only one factor affecting the market at present, and that is financing.”

His voice gradually became higher, "The market crash three trading days ago was triggered by rumors that the closing line of the financing market was hit. We don't know the specific situation, but it can be expected that a large area of ​​​​thousand shares will fall. , Even if the financing is double leveraged, the loss is probably close to 20%, whether this amount is placed on retail investors or occurs among our institutions, it is a very scary figure."

"In fact, twice the leverage is only on-market financing, and off-market financing leverage is higher than this, generally around three times, and even five times high leverage. The sharp drop three trading days ago Among them, I believe that most of these financing offers have not escaped, and the rumors that triggered the liquidation are definitely not rumors, but everything that actually happened.”

"If you want to continue to fall tomorrow, the financing market will be a huge force that cannot be ignored, especially after the two-day rebound, the financing market that has narrowed a part of the loss may no longer have the intention to fight in this market. Today’s decline at the end of the day has sounded the loudest alarm for them, telling them that if they don’t leave the market, they will lose everything.”

"So I think that our most important job at present is to spread news that is not conducive to financing in the market, such as someone financing stocks and jumping off a building, HOMES is under greater pressure from the regulators, isolating their network interfaces and even umbrella trusts The news of the real-name joint sitting system. As long as the financing market is in turmoil, the entire market will collapse."

"Among the three nearby provinces, Mr. Xu has absolute prestige, which is enough to convince those super rich. If Mr. Xu comes forward, I believe the news will spread very quickly and the funds that can be affected are quite large. Even We can use the name of President Xu to directly publish articles on the Internet worrying about the financing market, and in short, the entire market will be in a state of turmoil overnight."

   "Even I use it?"

  Xu Fei has been convinced in his heart, pointing his nose humorously and pretending to be angry, "Every time Cheng Zhonghua has a good strategy, he always pulls me in, and this time is no exception."

   "No way, those who can do more work!"

  There was a burst of good-natured laughter from the audience. During the laughter, Cheng Zhonghua touched his nose in embarrassment, and explained, "Mr. Xu's name is the weathervane of the market. If such things are not used, it is a waste of money."

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  (end of this chapter)