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High frequency trading - bugs, glitches, false liquidity and open warfare

CLACK, C; (2011) High frequency trading - bugs, glitches, false liquidity and open warfare. In: Kaur, P, (ed.) Buy-side intelligence - the Euromoney guide to securities trading. (21 - 26). Euromoney Trading Limited

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Abstract

High Frequency trading (HFT) - love it or hate it? Does it provide much-needed liquidity to the markets, or distort the markets and remove investment opportunities for lower-frequency traders? Financial markets are becoming increasingly unstable, but is HFT helping to smooth the effects of market instability or is it the root cause of some of these instabilities? The Flash Crash of May 6, 2010 was not the first time the financial markets have displayed aberrant behaviour, and it won't be the last, but it has sparked a fierce debate about the effects of HFT and its role in ameliorating or creating market instability.

Type:Book chapter
Title:High frequency trading - bugs, glitches, false liquidity and open warfare
ISBN-13:978-184374-863-2
Publisher version:http://www.euromoney-yearbooks.com/handbooks
Keywords:HFT, High Frequency Trading, Liquidity, Financial Markets
UCL classification:UCL > School of BEAMS > Faculty of Engineering Science > Computer Science

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