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>I mentioned several giant hedge funds (orders of magnitude bigger than the entire HFT industry) You mentioned Blackrock, whose net income last year was $3 bil

>I mentioned several giant hedge funds (orders of magnitude bigger than the entire HFT industry) You mentioned Blackrock, whose net income last year was $3 billion. http://www.wallstreetandtech.com/trading-technology/the-real-story-of-trading-software-espionage/a/d-id/1262125 http://www.wallstreetandtech.com/trading-technology/the-real...? "TABB Group estimates that annual aggregate profits of low-latency arbitrage strategies exceed $21 billion, spread out among the few hundred firms that deploy them." >What I argue is that the reason Barclay's needed to defraud their customers is that their claim (and all other dark pool's) claim that they could provide a better trading environment by excluding HFTs has been historically proven as false. Were this true, dark pools would not exist in the first place. Traders would have stuck to the public exchanges and paid their (lower) fees. >No matter how many times you paint HFT as "predators" or "sharks" or as "spearing whales" you've yet to describe a single behavior attributed to HFTs that is in any way unethical or illegal. False. There is a link I posted below in response to you that describes such a strategy (spearing the whale) in precise detail.

kasey_junk 12y ago
"You mentioned Blackrock, whose net income last year was $3 billion. http://www.wallstreetandtech.com/trading-technology/the-real... http://www.wallstreetandtech.com/trading-technology/the-real...? "TABB Group estimates that annual aggregate profits of low-latency arbitrage strategies exceed $21 billion, spread out among the few hundred firms that deploy them."" Thanks for using 1 number from now and another number from 5 years ago. Are you willing to concede the rest of your rhetorical high ground? Even if we discount the market impact numbers that you have to juke, I found a senator in 2009 speaking out against HFT. Can you find one defending it? "Were this true, dark pools would not exist in the first place. Traders would have stuck to the public exchanges and paid their (lower) fees." Maybe if the buy side firms didn't engage in fraud to keep their clients out of public exchanges that would be true.

kasey_junk 12y ago

"You mentioned Blackrock, whose net income last year was $3 billion. http://www.wallstreetandtech.com/trading-technology/the-real... http://www.wallstreetandtech.com/trading-technology/the-real...? "TABB Group estimates that annual aggregate profits of low-latency arbitrage strategies exceed $21 billion, spread out among the few hundred firms that deploy them."" Thanks for using 1 number from now and another number from 5 years ago. Are you willing to concede the rest of your rhetorical high ground? Even if we discount the market impact numbers that you have to juke, I found a senator in 2009 speaking out against HFT. Can you find one defending it? "Were this true, dark pools would not exist in the first place. Traders would have stuck to the public exchanges and paid their (lower) fees." Maybe if the buy side firms didn't engage in fraud to keep their clients out of public exchanges that would be true.