right, you used present tense. You meant hft "could possible have" more benefit? HFT is much more the product of the current regulatory structure than a feature

right, you used present tense. You meant hft "could possible have" more benefit? HFT is much more the product of the current regulatory structure than a feature of efficient markets. Instead of reading Flash Boys, which is good but not really very academic, I'd recommend "The problem of HFT" by Haim Bodek. It explains how he set out to build a sohpisticated trading shop with modern technology and realized all of his competitiors were just gaming the market structure and being handed advantages by exchanges desparate for trading volume.