噪声交易者的正向反馈作用容易导致IPO市场效率的恶性循环。
The positive feedback characteristic of noise traders would lead to the vicious circle of IPO market efficiency.
证券交易所以微秒(百万分之一秒)来处理交易，也需要提高速度使交易者收集的市场数据能快速反馈到算法中。
Exchanges are required to process trades in microseconds (millionths of a second). They also need to increase the speed with which traders receive market data to feed into their algorithms.
证券交易所以微秒(百万分之一秒)来处理交易，也需要提高速度使交易者收集的市场数据能快速反馈到算法中。
Exchanges are required to process trades in microseconds (millionths of a second). They also need to increase the speed with which traders receive market data to feed into their algorithms.
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