Friday, March 28, 2014
High-frequency trading hurts regular customers, Michael Lewis tells ’60 Minutes’
“High frequency traders have found ways to use their speed to gain an advantage that few understand,” says Lewis in the interview.IOW, front running.
“They’re able to identify your desire to buy shares in Microsoft and buy them in front of you and sell them back to you at a higher price,” says Lewis. “The speed advantage that the faster traders have is milliseconds…fractions of milliseconds.”
Labels: High Frequency Trading