I know a lot of engineers work in HFT and it is quite lucrative. But doesn't it cause too much volatility? What kind of regulations are there? Curious to hear from engineers or analysts in the industry.
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https://m.nasdaq.com/article/the-data-is-already-out-there-to-design-better-markets-cm1100953
I think on the hole market quality increases thanks to competition within HFTs.
For now, we’ve had in the last year 2 “mini-crashes” that some blame on algorithms.
It would happen otherwise in a slower manner if they didn't exist
SEC got the market they asked for when they implemented Reg NMS. Everyone hated the Specialists @NYSE for collecting their 1/16th of a point, and the Market Making forms on the NASD for their “manipulation” of markets. SEC made it so all markets had to respect other markets quotes.
Nobody could make a profit market making after decimalization.
So exchanges by offering rebates to firms who posted order flow. Firms figured if you could post a buy and a sell on two different exchanges you could make rebates on both...... if you got their first. Hello low latency arms race!
HFT’s do God’s work of providing liquidity for investors who want to actual move inventory. Not their fault that the SEC mandated such a shitty market structure.