HFT has been an ATM machine up until last year in the US.
For the most part their parasitic operations have destroyed retail's investor confidence after S&P flash clash and ongoing daily flash crashes in single names.
Perhaps the worst result of HFT is limited participation of true market makers and speculators that made the market in size in the past. Lobbyist have bought HFT time in the US but its mostly coming to an end now, there will be few players remaining for sure, but 5 person teams of ex floor traders putting together few Ms and "making markets" aint happening.
No wonder many of these guys are looking to Asia now. Judging by the way China has protected their home grown industry, there is no way in hell they are going to let some video game cowboys jeopardize their markets. I also think that regulators in HK and SG will look at whats best for the public and wont be influenced by lobby $s.
Market making has certainly its place, HFT gaming does not.
As for the poll, its really a no brainer question, not only should orders have minimum resting times, there should also be cancellations fees for excessive order inputting.
Exchanges are there to conduct legitimate business, not video game playing that erodes confidence of the real players that make capital markets work.
HFT has been an ATM machine up until last year in the US.
For the most part their parasitic operations have destroyed retail's investor confidence after S&P flash clash and ongoing daily flash crashes in single names.
Perhaps the worst result of HFT is limited participation of true market makers and speculators that made the market in size in the past. Lobbyist have bought HFT time in the US but its mostly coming to an end now, there will be few players remaining for sure, but 5 person teams of ex floor traders putting together few Ms and "making markets" aint happening.
No wonder many of these guys are looking to Asia now. Judging by the way China has protected their home grown industry, there is no way in hell they are going to let some video game cowboys jeopardize their markets. I also think that regulators in HK and SG will look at whats best for the public and wont be influenced by lobby $s.
Market making has certainly its place, HFT gaming does not.
As for the poll, its really a no brainer question, not only should orders have minimum resting times, there should also be cancellations fees for excessive order inputting.
Exchanges are there to conduct legitimate business, not video game playing that erodes confidence of the real players that make capital markets work.