Sorry, But High-Frequency Trading Is Not Dead

Analysts nowadays try to convince us that the financial markets have changed in a way that they are now the perfect environment for mom-and-pop investors. The main villain, in the face of high-frequency traders, is gone and our markets are back to their hyper-ultra-efficiency. Transparency, equal-for-all market rules, unharmed profits opportunities, lack of hidden costs — everything in the garden is rosy. Until it isn’t.

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