Why I Love High-Speed Trading
Separately, and along with my colleagues Aaron Brown, Michael Mendelson and Hitesh Mittal, I have written several articles on high-frequency trading. We believe HFT has lowered investors' trading costs and that many of the attacks on it are misguided. We have expressed concern that our fragmented, domestic trading infrastructure is technologically risky and due for a hard look, separate from allegations about HFT. Finally, we've noted the obvious: that while defending HFT broadly, we can't and wouldn't vouch that each HFT trader acts lawfully and ethically (nor would we do so for each Good Humor ice cream salesman).
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