The Problem of HFT - Collected Writings on High Frequency Trading & Stock Market Structure Reform

The Problem of HFT - Collected Writings on High Frequency Trading & Stock Market Structure Reform

This book explores <i><b>the problem of high frequency trading (HFT)</b></i> as well as <i><b>the need for US stock market reform</b></i>. This collection of previously published and unpublished materials includes the following articles and white papers: <br><br><b>1. The Problem of HFT</b> - explains how HFTs came to dominate US equity markets by exploiting artificial advantages introduced by electronic exchanges that catered to HFT strategies<br><br><b>2. HFT Scalping Strategies</b> - describes the primary features of modern HFT strategies currently active in US equities as well as the benefits these strategies extract from the maker-taker market model and the regulatory framework of the national market system<br><br><b>3. Why HFTs Have an Advantage</b> - explains the critical importance of HFT-oriented special order types and exchange order matching engine practices in the operation of modern HFT strategies<br><br><b>4. HFT - A Systemic Issue</b> - a discussion of the latest industry and regulatory developments with regard to exchange order matching practices that serve to advantage HFTs over the public customer<br><br><b>5. Electronic Liquidity Strategy</b> - proposes a conceptual framework for institutional traders to achieve superior execution performance in HFT-oriented electronic market venues<br><br><b>6. Reforming the National Market System</b> - proposes a 10-step plan for strengthening the operation of the US equities marketplace in order to serve the needs of long-term investors<br><br><b>7. NZZ Interview with Haim Bodek</b> - addresses current topics and proposals for US equities market structure reforms<br><br><b>8. TradeTech Interview with Haim Bodek</b> - addresses the current status of the HFT special order type debate