HFT Forms New Lobby Group

See this: http://www.reuters.com/article/idUSTRE5BK2U720091221

Bloomberg TV touched on this earlier this morning.  Fearful of new regulation, High Frequency Trading Firms are looking to spread their dollars around in Washington to protect their profits. You may remember a story in August that had one large Chicago firm boasting of $1 billion in profits by itself in 2008. You undoubtedly have read many articles on Flash, Latency Arbitrage, and new studies that demonstrate the detrimental effect HFT has to traditional investors (IE… the OWNERS of the market).

I suppose friendly pieces in industry rags, main stream media, and spokespersons that even include ex-SEC heads are not enough. A lobbying group armed with HFT $’s is needed to make sure that long term investors don’t level the playing field.

Instead of worrying that HFT players will migrate to other markets away from the USA, perhaps  we should be worrying about long term investors  (IE… the OWNERS of the market) abandoning their subsidization of a market controlled by the intraday …wait… intra-second renters, and moving their money overseas.

Maybe the time has come for the issuers to speak up. It is their stocks that will be abandoned.