> that's ordinary arbitrage, not HFT arbitrage. As it turns out, the "HFT" version of any trading strategy is _just like_ the "ordinary" version, but faster.

> that's ordinary arbitrage, not HFT arbitrage. As it turns out, the "HFT" version of any trading strategy is _just like_ the "ordinary" version, but faster. You could say that they "disrupted" the older arbitrageurs due to their collective technology R&D.