This has nothing to do with high-frequency trading. Insider trading has to do with with knowledge of important and undisclosed facts about a company. Stuff tha

This has nothing to do with high-frequency trading. Insider trading has to do with with knowledge of important and undisclosed facts about a company. Stuff that, when disclosed, might cause price swings (several percentage points). HFT works with disclosed information: prices and order books are public. Just because someone has access to this information 10 milliseconds earlier doesn't make it "insider" info. Also, HFT profit margin is usually tiny (measured in basis points). You're stretching the definition of "insider trading" so much that it's almost meaningless.