Ummm... No. That's not remotely what I said. Vanguard is not a market maker, and definitely not a HFT shop. Vanguard is the world's largest mutual fund compa

Ummm... No. That's not remotely what I said. Vanguard is not a market maker, and definitely not a HFT shop. Vanguard is the world's largest mutual fund company. If you're not clear on who the major market players are, you should probably stop worrying about the arcane details of which middlemen these players use to interact.