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NPR’s Planet Money: http://www.npr.org/blogs/money/2010/06/08/127563433/the-tuesday-podcast-the-million-dollar-microsecond Kevin Cronin, Global Head of Trading at Invesco is featured from the 16:05 mark through the 18:00 mark.
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A $3,750 study instead of an $8,000 study that tells us that HFT adds liquidity and decreases spreads! From Brandon Rowley’s Synopsis here: http://www.twsinvestments.com/2010/06/where-is-hft-headed-world-research.html “Next up was a half an hour presentation by Matt Samelson of Woodbine Associates titled “The Impact of High Frequency Strategies on Spreads and Volatility on Highly Liquid U.S. Equities”. The presentation was a summary of the $3,750 “ground-breaking study” available from the firm with their basic argument being that spreads tightened in 2/3 of the 39 most liquid stocks throughout 2008-09 and therefore the “traditional” market participant is better off, not worse off, as HFT
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