I am sitting in my hotel lobby in Santiago de Compostelo, Spain, and trying to put in a half hour of laptop time while my wife and daughter are still sleeping. I am reading all of the hub-bub surrounding HFT and algo trading, all brought on by the arrest of the Goldman Sachs employee. This morning, Paul Wilmott has an editorial in the New York Times.
What is going through my mind right now is the fact that, if HFT was regulated or banned, it would cost the jobs of a good number of very smart people in the Capital Markets industry. It would cause irreparable harm to some of the companies that support low-latency infrastructure. And, it would transform the Capital Markets industry in ways that I could not even imagine.
More thoughts on this later.
©2009 Marc Adler - All Rights Reserved.
All opinions here are personal, and have no relation to my employer.