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Comment on Study: High Speed Trading Hurts Long-Term Investorsparent

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HFT market making is about being more informed about the true price at the micro structure level than your counter-party. Simple as that, no black magic.

If someone trades with a HFT market maker its because

a) they are un-informed about the current true price

b) they choose to optimize execution time over best price

Its the same market game that`s been played for decades, just with different players and tools.

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