I read a couple of months ago that HTF has effectively already been neutralized (as in: profits have collapsed and lots of HFT shops have closed or merged), sim

I read a couple of months ago that HTF has effectively already been neutralized (as in: profits have collapsed and lots of HFT shops have closed or merged), simply by the nature of the game: There's a limited total profit potential everyone competes for, which limites the number of players and the expenses that can be justified. And that profit potential is directly related to market volatility. Which peaked in 2008 and has since gone down drastically.