赵岩/文

Zhao yan/article

　　北美时间4月23日，美联社（AP）Twitter账户遭“黑客”攻击，美东时间下午1时07分发出快讯，“突发新闻，白宫发生两起爆炸，巴拉克.奥巴马受伤。”

North American time on April 23,The Associated Press(AP)Twitter account has been"The hacker"attack,1 p.m. eastern time 07 distribute alerts,"Breaking news,The White House two explosions occurred,Barack Obama was injured."

　　虽然美联社几乎是立即暂停自己的Twitter线路，并公告微博遭黑，白宫遇袭是假消息，但因为造成3人死亡、200多人受伤的波士顿爆炸案刚过去一周多，这条新闻显然巧妙地利用了美国投资人的恐慌心理余温未消，让道指下跌近150点。

Although the ap was almost immediately suspend his own Twitter lines,Weibo and announcement was black,The attack of the White House is false news,But because killed three people/Boston, injuring more than 200 bombing last more than a week,This news is clearly skillfully takes advantage of the American investors panic psychology keypad did not disappear,The dow Jones industrial average fell nearly 150 points.

　　13年前的“9.11事件”，最终演变成了一场金融和经济的寒流；而当社交网站重写人类信息传播的方式，不经意间，也开始渐渐开始溶蚀建立在“可信信息”上的证券、甚至金融业的地基。如果你在这场风波中财富受到波及，心脏也忽上忽下，那你最好要为今后常有此遭遇做好准备。大多数分析师、交易员、市场参与者的共识都是：目前监管者恐怕无能为力。

13 years ago"9.11 event",Eventually evolved into a financial and economic cold snap;And when the social networking sites to rewrite human information dissemination way,inadvertently,Also began gradually started to set up in dissolution"Trusted information"On the stock/So that the foundations of the financial sector.If your wealth hurt in the fracas,Heart is up and down,You'd better prepare for the future often have this encounter.Most analysts/traders/Market participants are the consensus:Regulators now powerless, I'm afraid.

　　伴随社交网络深入生活，任何人只要有机会获得一条有价值的新闻，只要他有能力以百字短文，甚至寥寥数十字清楚呈现，都有可能推动市场，甚至影响世界；借助一个具备公信力和影响力的传媒平台，当然更如虎添翼。

Along with the social network into the thick of life,Anyone who has the opportunity to gain a valuable news,As long as he has the ability to best word essay,Even a few dozens of words clearly,Are likely to drive the market,Even affect the world;With the help of a credibility and influence of media platforms,Of course more.

　　此次事件表明，在高频交易改写股市生态后，借助科技变革，假新闻完全可以被“有心人”作为金融袭击的武器，而猫鼠游戏中的猫恐怕长期处于下风。

The incident shows that,In high-frequency trading, after the stock market ecology,With the aid of technological change,Fake news can be completely"Impossible to a willing heart"As a financial attack weapons,And the cats in the cat and mouse game underdog for a long time, I'm afraid.

　　这仅仅是一个境外的黑客攻击吗？期货投资管理公司Cronus Futures Management总裁Kevin Ferry称，观察标普500迷你期权合约会发现明显的异动，显示有交易员通过此次事件赢利，按照常规，有深入调查的必要，但现实中，却很可能时过境迁。

This is just an outside hacker attacks?Futures investment Management co., Cronus Futures Management, Kevin Ferry said,Observe the s&p 500 mini options contracts will find obvious changes,Showing traders profit through this event,According to the conventional,Necessary to further investigation,But in reality,May have changed.

　　至今，美国官方都没有发表任何有关将展开调查的评论。

So far,U.S. officials didn't comment anything about would conduct an investigation.

　　这和传统原因导致的类似事件大相径庭的放纵，会不会启发不爱走寻常路的操盘手？而被启发的恐怖组织会否更周密地以假新闻为金融袭击的有效武器？

This is quite different from traditional causes of similar incidents of indulgence,Will inspire traders don't walk unusual way?Was inspired terrorist organization will more carefully to fake news for financial effective weapon attacks?

　　有媒体发问，该怎么办，你能预计下一次导致股市跳水的虚假信息可能从哪里来吗？乌兹别克斯坦的顽童？印度的对冲基金？还是恐怖组织？如果不能，怎么预防？

The media asked,What should I do,You can expect the next stock market plunge of false information may come from where?Uzbekistan urchin?India's hedge funds?Or terrorist organization?If you can't,How to prevent?

　　而通过facebook（fb）和Twitter社交网站新闻发布的影响，只是一个范例，这些网站不仅在颠覆美国上市公司信息披露制度，也将影响全球的上市公司信息披露生态，依托信息的金融业在经历时代性的变革。该如何规范？这是全球的共同的命题。

And through facebook(fb)And the influence of the social-networking site Twitter news release,Just an example,These sites not only brought the information disclosure system of listed companies in the United States,Will also affect the information disclosure of listed companies of global ecology,Relying on the information of the financial industry in times of change.How to regulate?This is the world common proposition.

　　美国证监会(SEC)稍早允许上市公司用社交网站披露信息，这个代称为 “Reg FD.”的新规，预留很多被诟病对小投资人不公的灰色空间。

The securities and exchange commission(The SEC)Allow earlier use social networking sites disclosed information of listed companies,The generation is called "Reg the FD."The new rules,Set aside a lot was criticized for small investors unfair gray space.

　　SEC宣布，允许上市公司先向投资者表明后，直接在社交网站信息披露，此次政策改变是缘自美国视频流公司Netflix管理层在fb上发布了股价敏感信息，证监会最终宣布，企业社交网站所有投资者都可以公平登入，所以做出上述规定。

The The SEC announced,The listed company to investors before they are allowed,Direct information disclosure on social networking sites,The policy change is derived from the Netflix streaming company management on fb released the price sensitive information,Securities regulatory commission (CSRC) announced that in the end,Enterprise social networking websites all investors can be fair and log in,So make the rules.

　　但不容否定，大机构投资者、富人、权势阶层相对于普通人本来就有优先的信息渠道，信息披露的相关传统规则本意是抑制信息特权牟利，创造平等竞争投资平台，但社群网站的大众狂欢，最终恐怕成为少数人的投资嘉年华。

But it cannot be denied,Large institutional investors/The rich/Establishment, relative to ordinary people had preferred channels of information,Information disclosure of the relevant traditional rules meant to suppress information privileged to profit,Create equal competition investment platform,But the social networks of mass carnival,I'm afraid finally become a minority investment carnival.

　　有人戏称，社交网络是人以群分，如果CEO失意了、失恋了、喝高了，跟自己的群友分享下季度的公司业绩，虽然是公开信息，这对公司的投资人可不像茫茫林海倒棵树一样悄无声息，估计会砸伤无辜人。

Someone called,Social networking is a person with group of points,If the CEO of frustrated/brokenhearted/Drink up,With their group of friends to share the next quarter of company performance,Though it is public information,The investors of the company don't like the vast Lin hai fall tree quietly,Estimates that will hurt innocent people.

　　当过去10年高频交易改变了股市的交易生态后，未来10年社群网站可能再次改变股市的交易生态。一切变革似乎都正指向对小投资者愈见不公的方向，希望滞后的监管奋起直追来改变。

When in the past 10 years ecological after high-frequency trading has changed the stock market trading,In the next 10 years ecological community sites may change again the stock market trading.All change seem to is pointing in the direction of small investors increasingly see injustice,Hope lagging regulation of catching up to change.

　　作者毕业于北京大学

The author graduated from Beijing university

　　国际关系学院及北京大学中国经济研究中心

Institute of international relations and China center for economic research of Peking University

　　现旅居美国旧金山

Now living in San Francisco

　　邮箱：yanina.zhao@gmail.com

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