As debate rages in the US and Europe about the runaway growth of “high- frequency trading” a new question has arisen: is it really generating huge profits for the little-known groups that are driving it?
Critics of high-frequency trading, which uses computers to trade in and out of assets faster than the blink of a human eye, argue that markets have benefited little from it.
They worry about the pervasive use of algorithms to drive trades, a practice seen by many as contributing to the chaos of the “flash crash” in US share markets in May, when the Dow inexplicably tumbled hundreds of points in minutes only to rebound sharply.
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