Defending HFT
Via TradersMag:For the past month, high-frequency trading has been under attack. The first volley came on a Sunday night in late March, when author Michael Lewis, introducing his new book Flash Boys on the news magazine program 60 Minutes, delivered the most perfectly succinct of all headline-grabbing comments. “The markets are rigged,” he told correspondent Steve Kroft, implying that high-frequency traders front-run the market and are cheating ordinary investors.
Since then, the imagery used to battle HFT has only grown more fanciful and over the top.