Derailing the High-Speed Trading Bullet Train Before It Crashes Our Economy | Common Dreams

Derailing the High-Speed Trading Bullet Train Before It Crashes Our Economy | Common Dreams

"Four years after they caused the “Flash Crash,” those speed demons still rule our financial markets."

Michael Lewis on rigging Wall Street

How to rig Wall Street

Wall Street's High-Tech Rip-Off

www.alternet.org/economy/wall-streets-high-tech-rip
"Dangerous and predatory high-frequency trading is bad for markets, bad for regular people and bad for society."

High-Frequency Trading Actually Does More Harm Than Good

High-Frequency Trading Actually Does More Harm Than Good: Computerized financial trading that takes advantage of milliseconds of lag to capture profits isn’t actually good for markets, as high-frequency trading (HFT) proponents have long argued, according to wew work by University of Michigan economists. Instead, Quartz’s Simone Foxman writes, a common type of computerized HFT activity “harms the average investor” by skewing actually markets. [...]/p

High-Speed Traders’ Campaign Contributions Shot Up 673 Percent From 2008 to 2012

High-Speed Traders’ Campaign Contributions Shot Up 673 Percent From 2008 to 2012: Campaign contributions by high-frequency trading firms have skyrocketed 673 percent since 2008, according to a new report focusing on 48 companies. These traders contributed $16.1 million during the 2012 election cycle, up from just $2.1 million in 2008. That’s not including the 93 percent spike in funds spent on lobbying Congress, the Securities and Exchange [...]/p

High-Frequency Trading Pioneer: Today’s Trading ‘Has Absolutely No Social Value’

High-Frequency Trading Pioneer: Today’s Trading ‘Has Absolutely No Social Value’: Thomas Peterffy, who pioneered the computer-based high-frequency trading that generates millions of dollars in profits for big banks, said in an interview with NPR’s Planet Money that speed trading has gotten so fast that it now “has absolutely no social value”: Peterffy says automation has done some very good things for the world. It’s made [...]/p