Hacker News Reader

> That is a pointless comparison.

I was highlighting the difference between online advertising and financial markets. They operate at different scales.

> That $107b was all revenue for somebody (Google, Facebook, etc), while the $145b was just the nominal value of shares traded.

These are cash instruments, not derivatives, so that is indeed $145b of cash changing hands each day.

View on HN

I’ve worked in both. For the purpose of the earlier conversation, the auctions for ad exchanges happen at about 1 order of magnitude more than for exchange tradable symbols.

That is to say there is no tech reason that financial exchanges couldn’t run auctions.

Aside: personally I think that continuous exchanges are great & people who have problems with them usually don’t know what they are talking about.

not necessarily, money has velocity; market participants don't have $145B to spend, they spend a fraction of that and then reconcile balances at the end of the day.

see https://en.wikipedia.org/wiki/Clearing_(finance)

Reply on news.ycombinator.com