Useful liquidity tool or weapon of
financial mass destruction?
We’ve come a long way from the days when stocks traded via open outcry on the floor of the exchanges. Today the vast majority of trades take place electronically without any human intervention and most orders are generated by algorithms and fulfilled by computers.
This informative paper provides a basic understanding of high-frequency trading – what it is, how it works, and why it’s drawn the attention of regulators and policymakers lately.
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