HFT: It's the Anti-Competition, Stupid

  • Published: September 30th, 2009
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The problem with the markets today is that they are dominated by a few major players. These marketmakers have become, in effect, market manipulators. … – TIME1

I love it when the MSM gets it right.  The story at the note1 below is a must-read for any Doomer who successfully connected the dots4 between GS’s 7/3 exploit in NJ and Ken’s efforts to suppress Misha in IL.

UPDATE (3): The big guns at Wharton have also joined the party3 today.  About time, guys.

UPDATE (2): The Themis guys are asking some tough questions today.

HFT’s Dominance May Be Affecting the Health of the Market – Advanced Trading2

UPDATE (1): The good folks at Business Insider have instituted an "embed" feature, just like YouTube :) Since they’ve got an article in the same general topic as the NYT piece we’re already featuring, what the heck? Let’s give it a try.

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[1]: "The Truth About High-Frequency Trading", by Ari J. Officer, TIME, September 30, 2009.

[2]: "What Ails Us About High Frequency Trading?", by Sal Arnuk and Joseph Saluzzi, Advanced Trading, September 30, 2009.

[3]: "The Impact of High-frequency Trading: Manipulation, Distortion or a Better-functioning Market?", Knowledge @ Wharton, September 30, 2009.

[4]: "Former Citadel Executive Denies Deliberately Erasing Evidence", by Andrew M. Harris, Bloomberg, October 1, 2009. [I suppose this counts as "UPDATE 4"]

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