{"id":7058,"date":"2013-03-18T22:55:45","date_gmt":"2013-03-19T02:55:45","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=7058"},"modified":"2013-03-18T22:55:45","modified_gmt":"2013-03-19T02:55:45","slug":"asic-high-frequency-trading-taskforce-key-findings","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2013\/03\/18\/asic-high-frequency-trading-taskforce-key-findings\/","title":{"rendered":"ASIC: High-frequency trading taskforce\u2014Key findings"},"content":{"rendered":"

Findings of the recent ASIC investigation into dark liquidity and high-frequency trading.<\/p>\n

The high-frequency trading taskforce found that:<\/p>\n

(a) some of the commonly held negative perceptions about high-frequency trading are not supported by our analysis of Australian markets\u2014for example:<\/p>\n

(i) that high-frequency traders exhibit unacceptably high order-to-trade ratios. Increases in order-to-trade ratios in Australia have been moderate compared with overseas markets, and other algorithmic traders operate at similar levels; and
\n(ii) that high-frequency traders\u2019 holding times are often a matter of seconds and therefore that they make no contribution to deep, liquid markets. Our analysis shows that only 1.2% of high-frequency traders held positions for an average of two minutes or less, 18% for less than 10 minutes and 51% for less than 30 minutes; and<\/p>\n

(b) there is some basis in fact for other perceptions (e.g. about high-frequency trading creating excessive noise and exhibiting predatory or \u2018gaming\u2019 behaviours), but other traders are also contributing to the problem.<\/p>\n

Both [the HFT and Dark Pools] taskforces have found evidence of potential breaches of ASIC Market Integrity Rules and the Corporations Act 2001 (Corporations Act), and some matters have been referred to our Enforcement teams for investigation. We have also seen a change in behaviour as a result of our inquiries. For example:<\/p>\n

(a) fundamental investors are asking more questions about where and how their orders are executed;
\n(b) there have been improvements to automated trading risk management controls; and
\n(c) at least one high-frequency trader has ceased trading in Australia.<\/p><\/blockquote>\n

The main problem with HFT is investor perceptions that they are paying more for stocks than they should be. HFT trading profits can only come out of investors pockets. While the ASX receives massive fees<\/a> from HFT traders, the erosion of investor trust in fair pricing is too serious to ignore. Failure to address this could see investors migrate to other exchanges or platforms, especially if there is a transparent auction process where HFT traders are unable to intercede.<\/p>\n","protected":false},"excerpt":{"rendered":"

Findings of the recent ASIC investigation into dark liquidity and high-frequency trading. The high-frequency trading taskforce found that: (a) some of the commonly held negative perceptions about high-frequency trading are not supported by our analysis of Australian markets\u2014for example: (i) that high-frequency traders exhibit unacceptably high order-to-trade ratios. Increases in order-to-trade ratios in Australia have … <\/p>\n

Continue reading “ASIC: High-frequency trading taskforce\u2014Key findings”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[40,34],"tags":[163,1678,1685],"class_list":["post-7058","post","type-post","status-publish","format-standard","hentry","category-australia-nz-countries-regions","category-us-canada-countries-regions","tag-algorithmic-trading","tag-hft","tag-high-frequency-trading"],"yoast_head":"\nASIC: High-frequency trading taskforce\u2014Key findings - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ASIC: High-frequency trading taskforce\u2014Key findings - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Findings of the recent ASIC investigation into dark liquidity and high-frequency trading. The high-frequency trading taskforce found that: (a) some of the commonly held negative perceptions about high-frequency trading are not supported by our analysis of Australian markets\u2014for example: (i) that high-frequency traders exhibit unacceptably high order-to-trade ratios. Increases in order-to-trade ratios in Australia have … Continue reading "ASIC: High-frequency trading taskforce\u2014Key findings"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2013\/03\/18\/asic-high-frequency-trading-taskforce-key-findings\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:author\" content=\"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/\" \/>\n<meta property=\"article:published_time\" content=\"2013-03-19T02:55:45+00:00\" \/>\n<meta name=\"author\" content=\"Colin Twiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Colin Twiggs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2013\\\/03\\\/18\\\/asic-high-frequency-trading-taskforce-key-findings\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2013\\\/03\\\/18\\\/asic-high-frequency-trading-taskforce-key-findings\\\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/person\\\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"ASIC: High-frequency trading taskforce\u2014Key findings\",\"datePublished\":\"2013-03-19T02:55:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2013\\\/03\\\/18\\\/asic-high-frequency-trading-taskforce-key-findings\\\/\"},\"wordCount\":330,\"commentCount\":2,\"publisher\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\"},\"keywords\":[\"algorithmic trading\",\"HFT\",\"high frequency trading\"],\"articleSection\":[\"Australia & NZ\",\"US & Canada\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2013\\\/03\\\/18\\\/asic-high-frequency-trading-taskforce-key-findings\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2013\\\/03\\\/18\\\/asic-high-frequency-trading-taskforce-key-findings\\\/\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2013\\\/03\\\/18\\\/asic-high-frequency-trading-taskforce-key-findings\\\/\",\"name\":\"ASIC: High-frequency trading taskforce\u2014Key findings - the patient investor\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#website\"},\"datePublished\":\"2013-03-19T02:55:45+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2013\\\/03\\\/18\\\/asic-high-frequency-trading-taskforce-key-findings\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2013\\\/03\\\/18\\\/asic-high-frequency-trading-taskforce-key-findings\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2013\\\/03\\\/18\\\/asic-high-frequency-trading-taskforce-key-findings\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/thepatientinvestor.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"ASIC: High-frequency trading taskforce\u2014Key findings\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#website\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. Strategic. Unfiltered. \",\"publisher\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/thepatientinvestor.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\",\"name\":\"The Patient Investor Pty Ltd\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/i0.wp.com\\\/thepatientinvestor.com\\\/wp-content\\\/uploads\\\/2026\\\/03\\\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1\",\"contentUrl\":\"https:\\\/\\\/i0.wp.com\\\/thepatientinvestor.com\\\/wp-content\\\/uploads\\\/2026\\\/03\\\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1\",\"width\":250,\"height\":250,\"caption\":\"The Patient Investor Pty Ltd\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/profile.php?id=61572934660810\",\"https:\\\/\\\/www.instagram.com\\\/colin_thepatientinvestor\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/person\\\/d42b18d516a80149d739845749ac6454\",\"name\":\"Colin Twiggs\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/29a4e13250381b203ea835108c2d5eee4947439713c271ae5ba60afb53194432?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/29a4e13250381b203ea835108c2d5eee4947439713c271ae5ba60afb53194432?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/29a4e13250381b203ea835108c2d5eee4947439713c271ae5ba60afb53194432?s=96&d=mm&r=g\",\"caption\":\"Colin Twiggs\"},\"description\":\"Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\\\/2009 and 2020 bear markets well ahead of actual events. He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.\",\"sameAs\":[\"https:\\\/\\\/facebook.com\\\/people\\\/The-Patient-Investor\\\/61572934660810\\\/\",\"https:\\\/\\\/www.instagram.com\\\/colin_thepatientinvestor\",\"https:\\\/\\\/au.linkedin.com\\\/in\\\/colintwiggs\"],\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/author\\\/investor\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"ASIC: High-frequency trading taskforce\u2014Key findings - the patient investor","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"ASIC: High-frequency trading taskforce\u2014Key findings - the patient investor","og_description":"Findings of the recent ASIC investigation into dark liquidity and high-frequency trading. The high-frequency trading taskforce found that: (a) some of the commonly held negative perceptions about high-frequency trading are not supported by our analysis of Australian markets\u2014for example: (i) that high-frequency traders exhibit unacceptably high order-to-trade ratios. Increases in order-to-trade ratios in Australia have … Continue reading \"ASIC: High-frequency trading taskforce\u2014Key findings\"","og_url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/03\/18\/asic-high-frequency-trading-taskforce-key-findings\/","og_site_name":"the patient investor","article_publisher":"https:\/\/www.facebook.com\/profile.php?id=61572934660810","article_author":"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","article_published_time":"2013-03-19T02:55:45+00:00","author":"Colin Twiggs","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Colin Twiggs","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/thepatientinvestor.com\/index.php\/2013\/03\/18\/asic-high-frequency-trading-taskforce-key-findings\/#article","isPartOf":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2013\/03\/18\/asic-high-frequency-trading-taskforce-key-findings\/"},"author":{"name":"Colin Twiggs","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/person\/d42b18d516a80149d739845749ac6454"},"headline":"ASIC: High-frequency trading taskforce\u2014Key findings","datePublished":"2013-03-19T02:55:45+00:00","mainEntityOfPage":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2013\/03\/18\/asic-high-frequency-trading-taskforce-key-findings\/"},"wordCount":330,"commentCount":2,"publisher":{"@id":"https:\/\/thepatientinvestor.com\/#organization"},"keywords":["algorithmic trading","HFT","high frequency trading"],"articleSection":["Australia & NZ","US & Canada"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/thepatientinvestor.com\/index.php\/2013\/03\/18\/asic-high-frequency-trading-taskforce-key-findings\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/thepatientinvestor.com\/index.php\/2013\/03\/18\/asic-high-frequency-trading-taskforce-key-findings\/","url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/03\/18\/asic-high-frequency-trading-taskforce-key-findings\/","name":"ASIC: High-frequency trading taskforce\u2014Key findings - the patient investor","isPartOf":{"@id":"https:\/\/thepatientinvestor.com\/#website"},"datePublished":"2013-03-19T02:55:45+00:00","breadcrumb":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2013\/03\/18\/asic-high-frequency-trading-taskforce-key-findings\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/thepatientinvestor.com\/index.php\/2013\/03\/18\/asic-high-frequency-trading-taskforce-key-findings\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/thepatientinvestor.com\/index.php\/2013\/03\/18\/asic-high-frequency-trading-taskforce-key-findings\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/thepatientinvestor.com\/"},{"@type":"ListItem","position":2,"name":"ASIC: High-frequency trading taskforce\u2014Key findings"}]},{"@type":"WebSite","@id":"https:\/\/thepatientinvestor.com\/#website","url":"https:\/\/thepatientinvestor.com\/","name":"The Patient Investor","description":"Smart. Strategic. Unfiltered. ","publisher":{"@id":"https:\/\/thepatientinvestor.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/thepatientinvestor.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/thepatientinvestor.com\/#organization","name":"The Patient Investor Pty Ltd","url":"https:\/\/thepatientinvestor.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/logo\/image\/","url":"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2026\/03\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1","contentUrl":"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2026\/03\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1","width":250,"height":250,"caption":"The Patient Investor Pty Ltd"},"image":{"@id":"https:\/\/thepatientinvestor.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/profile.php?id=61572934660810","https:\/\/www.instagram.com\/colin_thepatientinvestor"]},{"@type":"Person","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/person\/d42b18d516a80149d739845749ac6454","name":"Colin Twiggs","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/29a4e13250381b203ea835108c2d5eee4947439713c271ae5ba60afb53194432?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/29a4e13250381b203ea835108c2d5eee4947439713c271ae5ba60afb53194432?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/29a4e13250381b203ea835108c2d5eee4947439713c271ae5ba60afb53194432?s=96&d=mm&r=g","caption":"Colin Twiggs"},"description":"Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events. He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.","sameAs":["https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","https:\/\/www.instagram.com\/colin_thepatientinvestor","https:\/\/au.linkedin.com\/in\/colintwiggs"],"url":"https:\/\/thepatientinvestor.com\/index.php\/author\/investor\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9tQ4n-1PQ","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":5260,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/08\/14\/new-research-busts-high-frequency-trading-and-dark-pool-myths-cmcrc-yahoo-finance\/","url_meta":{"origin":7058,"position":0},"title":"New Research Busts High-Frequency Trading and Dark Pool Myths — CMCRC","author":"Colin Twiggs","date":"August 14, 2012","format":false,"excerpt":"Press Release: Capital Markets Cooperative Research Centre CMCRC, the Australian independent academic centre for capital market research, has found that high-frequency trading (HFT) actually benefits capital market structures and performance, while dark pools may have damaging effects. Speaking at an event in Beijing, Professor Frino outlined his research that showed\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3560,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/02\/22\/schapiro-questions-role-of-high-frequency-traders-wsj-com\/","url_meta":{"origin":7058,"position":1},"title":"Schapiro Questions Role of High-Frequency Traders – WSJ.com","author":"ColinTwiggs","date":"February 22, 2012","format":false,"excerpt":"Securities and Exchange Commission Chairman Mary Schapiro said Wednesday she is worried about the role of high-frequency traders in the stock market and hinted at new policies aimed at curbing frenetic market activity. A large portion of trading in the equities market has little to do with \"the fundamentals of\u2026","rel":"","context":"In "Stock Markets"","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8094,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/07\/11\/the-high-frequency-trading-arms-race-frequent-batch-auctions-as-a-market-design-response\/","url_meta":{"origin":7058,"position":2},"title":"The High-Frequency Trading Arms Race: Frequent Batch Auctions as a Market Design Response","author":"ColinTwiggs","date":"July 11, 2013","format":false,"excerpt":"Extract from a paper by Eric Budish, Peter Cramton, and John Shim proposing that frequent batch auctions -- uniform-price double auctions conducted at frequent but discrete time intervals (e.g. every 1 second) \u2013 be employed to end the high-frequency trading arms race: The fourth and final part of our argument\u2026","rel":"","context":"In "Stock Markets"","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6356,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/12\/04\/how-regulations-led-to-high-frequency-trading\/","url_meta":{"origin":7058,"position":3},"title":"How Regulations Led to High-Frequency Trading","author":"Colin Twiggs","date":"December 4, 2012","format":false,"excerpt":"John Carney writes that high frequency trading is an unintended consequence of regulatory action to remove market specialists: High frequency trading grew up in the aftermath of a decades-long struggle by Congress, the SEC, and the stock exchanges to stamp out the specialists, who were accused of front-running customers, favoritism\u2026","rel":"","context":"In "Stock Markets"","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6357,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/12\/04\/high-speed-traders-profit-at-expense-of-ordinary-investors-a-study-says-nytimes-com\/","url_meta":{"origin":7058,"position":4},"title":"High-Speed Traders Profit at Expense of Ordinary Investors, a Study Says | NYTimes.com","author":"Colin Twiggs","date":"December 4, 2012","format":false,"excerpt":"NATHANIEL POPPER and CHRISTOPHER LEONARD write: The chief economist at the Commodity Futures Trading Commission, Andrei Kirilenko, reports in a coming study that high-frequency traders make an average profit of as much as $5.05 each time they go up against small traders buying and selling one of the most widely\u2026","rel":"","context":"In "Stock Markets"","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5262,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/08\/14\/nanex-high-frequency-traders-at-work-video\/","url_meta":{"origin":7058,"position":5},"title":"Nanex ~ High frequency traders at work [video]","author":"Colin Twiggs","date":"August 14, 2012","format":false,"excerpt":"High Frequency Traders (HFT) jam thousands of quotes in MasterCard stock at the millisecond level on May 16, 2012. From Eric Hunsader - Nanex http:\/\/youtu.be\/sDriNz8oAlc Entire video shows about 5 seconds of time, slowed so you can see what goes on at the millisecond level. Each box represents one exchange.\u2026","rel":"","context":"In "Trading"","block_context":{"text":"Trading","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/trading\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/img.youtube.com\/vi\/sDriNz8oAlc\/0.jpg?resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/7058","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=7058"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/7058\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=7058"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=7058"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=7058"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}