What was once considered niche, black market-making magic is now a full out trading operation that can no longer be ignored.
High frequency trading has its share of critics, but traders who work for firms like Tradeworx play the capitalism card:
For their part, the fast traders don’t see what all the fuss is about.
“We live in a capitalist society,” said Tradeworx Chief Executive Manoj Narang, 40, wearing jeans, runners and a Yankees baseball cap.
“People should expect and be willing to pay a price for the liquidity that they get. No one should expect that a provider of liquidity is just going to stand there while you bulldoze them into submission,” Narang said.
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See Also:
- Goldman: We Don’t Frontrun Our Clients, And HFT Is Negligible To Us
- Cyborg Trading Promises High-Frequency Trading For Joe Six-Pack
- If You Hate High-Frequency Trading, You Should LOVE Dark Pools
