14 Seconds...27,000 Deals...1 Question

Technology that allows a contract to move from one trader to another 27,000 times in 14 seconds may sound impressive but it begs the question: How does this benefit society?

A recent report from the Robin Hood Tax Campaign, entitled Financial Crisis 2: Rise of the Machines, has highlighted how an activity called High Frequency Trading is effectively making it impossible for regulators to police and intervene in the market when necessary. High Frequency Trading is computer driven trading that uses algorithms to facilitate shares being bought and sold hundreds of times a second and has the unfortunate innate ability to drive up prices and cause market volatility.

Making matters worse is the fact that such trading is increasingly being used for trading commodities, meaning oil and food. Wild volatility in these areas would not only cause havoc in the market, but more importantly will impact directly upon people's lives.

So once again, though impressed with the mathematical equations embedded in such technology, I must ask how this benefits society? And if the answer is that it doesn't, well then it's time to once again reiterate and intensify the call for a financial transaction tax - which would throw some much needed sand in the wheels of these technological trades.

Human Rights Concerns in Ireland

A great summary of the human rights concerns highlighted by key stakeholders in Ireland has been published by the UN in advance of the UN Human Rights Council's examination of Ireland in October 2011.

Some issues demanding attention include:

- The need for the ratification of the Optional Protocol to the Convention Against Torture and other Cruel, Inhuman or Degrading Treatment or Punishment.
- The desirability in conducting an analysis of the contribution that the Community & Voluntary sector makes to human rights promotion and protection in Ireland.
- The policing of protestors around the Corrib Gas Project.
- The demand for full civil marriage legislation for same sex couples.
- The lack of recognition of Travellers as an ethnic minority.
- The necessity for greater legislative and policy protections for vulnerable migrant workers.

The above is just a small selection of the great many submissions made by 60 stakeholders in Ireland in advance of the UN Human Rights Council's examination. View the full summary here.

Oxfam's Food Prices Map

A very cool interactive map has recently been produced by a colleague in Oxfam. Enjoy