{"id":14564,"date":"2010-08-03T23:08:14","date_gmt":"2010-08-03T21:08:14","guid":{"rendered":"http:\/\/www.pauljorion.com\/blog\/?p=14564"},"modified":"2013-01-02T17:58:16","modified_gmt":"2013-01-02T16:58:16","slug":"la-manipulation-du-cours-des-actions","status":"publish","type":"post","link":"https:\/\/www.pauljorion.com\/blog\/2010\/08\/03\/la-manipulation-du-cours-des-actions\/","title":{"rendered":"La manipulation du cours des actions"},"content":{"rendered":"<p>Le site <a href=\"http:\/\/www.nanex.net\/FlashCrash\/CCircleDay.html\">Nanex<\/a> nous offre ces tr\u00e8s belles images de manipulation du cours des actions sur les march\u00e9s boursiers am\u00e9ricains.<\/p>\n<p>On pourrait imaginer que l\u2019on n\u2019ait pas affaire ici \u00e0 du <em>High Frequency Trading<\/em> op\u00e9r\u00e9 par des ordinateurs suivant les commandements d\u2019un algorithme, qu\u2019on ait affaire par exemple \u00e0 des \u00eatres humains tr\u00e8s bien synchronis\u00e9s, comme ceux, par exemple, que l\u2019on a vu \u00e0 l\u2019ouverture des derniers Jeux Olympiques en Chine, mais quand on lit que 15 000 offres d\u2019achat distinctes ont lieu en 11 secondes, le doute se dissipe : ce sont bien des machines qui font \u00e7a.<\/p>\n<p>Notez qu\u2019on ne voit pas sur ces images d\u2019offres de vente, uniquement des offres d\u2019achat. Autant pour la l\u00e9gende urbaine qui veut que le <em>High Frequency Trading<\/em> procurerait \u00e0 ces march\u00e9s de la liquidit\u00e9.       <\/p>\n<p>Notez aussi, qu\u2019en proposant ainsi d\u2019acheter pour annuler cette offre aussit\u00f4t, on peut faire varier le cours de 10 %. Autant pour la l\u00e9gende urbaine qui veut que les cours sur les march\u00e9s boursiers sont encore d\u00e9termin\u00e9s par l\u2019offre et la demande et refl\u00e8tent une \u00ab v\u00e9rit\u00e9 \u00bb des prix. Ou pour celle qui veut que les march\u00e9s boursiers ne sont pas enti\u00e8rement corrompus par la fraude\u2026 Ceci dit, vous serez d\u2019accord, c\u2019est tr\u00e8s joli !<\/p>\n<p><a href=\"http:\/\/www.pauljorion.com\/blog\/wp-content\/uploads\/Nanex-2.jpg\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.pauljorion.com\/blog\/wp-content\/uploads\/Nanex-2.jpg\" alt=\"\" title=\"Nanex 2\" width=\"1244\" height=\"420\" class=\"alignnone size-full wp-image-14566\" \/><\/a><\/p>\n<p><a href=\"http:\/\/www.pauljorion.com\/blog\/wp-content\/uploads\/Nanex-4.jpg\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.pauljorion.com\/blog\/wp-content\/uploads\/Nanex-4.jpg\" alt=\"\" title=\"Nanex 4\" width=\"1246\" height=\"420\" class=\"alignnone size-full wp-image-14567\" \/><\/a><\/p>\n<p><a href=\"http:\/\/www.pauljorion.com\/blog\/wp-content\/uploads\/Nanex-5.jpg\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.pauljorion.com\/blog\/wp-content\/uploads\/Nanex-5.jpg\" alt=\"\" title=\"Nanex 5\" width=\"1245\" height=\"420\" class=\"alignnone size-full wp-image-14568\" \/><\/a><\/p>\n<p><a href=\"http:\/\/www.pauljorion.com\/blog\/wp-content\/uploads\/Nanex-11.jpg\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.pauljorion.com\/blog\/wp-content\/uploads\/Nanex-11.jpg\" alt=\"\" title=\"Nanex 11\" width=\"1245\" height=\"420\" class=\"alignnone size-full wp-image-14569\" \/><\/a><\/p>\n<p><a href=\"http:\/\/www.pauljorion.com\/blog\/wp-content\/uploads\/Nanex-13.jpg\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.pauljorion.com\/blog\/wp-content\/uploads\/Nanex-13.jpg\" alt=\"\" title=\"Nanex 13\" width=\"1246\" height=\"420\" class=\"alignnone size-full wp-image-14565\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Le site <a href=\"http:\/\/www.nanex.net\/FlashCrash\/CCircleDay.html\">Nanex<\/a> nous offre ces tr\u00e8s belles images de manipulation du cours des actions sur les march\u00e9s boursiers am\u00e9ricains.<\/p>\n<p>On pourrait imaginer que l\u2019on n\u2019ait pas affaire ici \u00e0 du <em>High Frequency Trading<\/em> op\u00e9r\u00e9 par des ordinateurs suivant les commandements d\u2019un algorithme, qu\u2019on ait affaire par exemple \u00e0 des \u00eatres humains tr\u00e8s bien [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,307,18],"tags":[53,84,244,777],"class_list":["post-14564","post","type-post","status-publish","format-standard","hentry","category-economie","category-finance","category-monde-financier","tag-bourse","tag-fraude","tag-high-frequency-trading","tag-manipulation"],"_links":{"self":[{"href":"https:\/\/www.pauljorion.com\/blog\/wp-json\/wp\/v2\/posts\/14564","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pauljorion.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pauljorion.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pauljorion.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pauljorion.com\/blog\/wp-json\/wp\/v2\/comments?post=14564"}],"version-history":[{"count":12,"href":"https:\/\/www.pauljorion.com\/blog\/wp-json\/wp\/v2\/posts\/14564\/revisions"}],"predecessor-version":[{"id":48097,"href":"https:\/\/www.pauljorion.com\/blog\/wp-json\/wp\/v2\/posts\/14564\/revisions\/48097"}],"wp:attachment":[{"href":"https:\/\/www.pauljorion.com\/blog\/wp-json\/wp\/v2\/media?parent=14564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pauljorion.com\/blog\/wp-json\/wp\/v2\/categories?post=14564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pauljorion.com\/blog\/wp-json\/wp\/v2\/tags?post=14564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}