Say what you will about high-frequency traders (high-frequency trading news), but I think we can all agree we really don't know much about them. We've heard the rhetoric on both sides, but the minutiae is still difficult to grasp, as executives across the industry and market and regulators are finding out. We all could use some perspective, and that's precisely what Institutional Investor delivers with its long takeout on the practice.

It touches on the entire controversy--the "bulge bracket" high-frequency traders, the critics, the regulators and all of the other players--and couches the practice in the history of trading. It doesn't dive deep into specific controversies. For example, I would've appreciated more detail on the exact mechanisms by which high-frequency traders are said to be gaming the system, via data feeds and "latency arbitrage." But it is a terrific overview for executives who have not invested much time in understanding the controversy.

This will be a timely read, as the issues are not soon going away. Mutual funds, for example, seem to be stepping up their criticism of certain practices. You may also be interested in Institutional Investor's 25 most loved stocks by high-frequency traders. 

For more:
- here's the article

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