The Daily Show’s “Cash Cow” sums up high frequency trading: “So douchey traders are being replaced by douchey computers?”
See also: “If I know about a stock’s activity a day before it’s insider trading…if I know about a stock’s activity one second before it’s HFT”
Click the image to open the video in a new window (the segment is about 11 minutes in):
Readers based outside of the US can try accessing the video at thedailyshow.com.
Related links:
Former Citadel Executive Malyshev Denies Deliberately Erasing Evidence – Bloomberg
The Cold War in high frequency trading turns hot – FT Alphaville
The Impact of HFT: Manipulation, Distortion or a Better-functioning Market? – Knowledge at Wharton