An “Insider” HFT video, and SEC funding
This is a video of Manjo Narang, CEO of Tradeworx, discussing HFT and what these systems mean in the market today. It is educational. It is frank. He does say that HFT has an outsized impact on financial markets, which is why we have been so persistent in trying to have everyone be more aware of its presence.
I just wanted to point out the irony that on January 6th, 2010, the SEC made changes to the fees it charges all of us for its funding, effective January 15th : http://www.sec.gov/news/press/2009/2009-270.htm
The irony is that it increased the fee it charges ISSUERS, while decreasing the fees on transactions. Bottom line: Issuers pay more, HFT firms (and all those who transact) pay less. Makes sense?