We have watched in recent weeks increased scrutiny to the highly opaque world of HFT. We are happy to have aided many others in shining a light on these murky waters. We are less than happy, however, to hear our name sullied by some, who have accused us of self promotion. We have a history of having our goals alligned with the buyside, and we stand by that history.
We make these observations:
1. In recent years exchanges have become for-profit, and less regulated, and more self-regulated.
2. In recent years trading technology has become increasingly sophisticated.
3. In recent years HFT has taken
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