hft and how it works, page-2

mainly about HTM but one quote worth mentioning:

http://www.smh.com.au/business/brokers-skewered-by-market-gyrations-20120715-224ad.html

"The growing perception is that high-frequency trading is creating a market that is no longer fair nor orderly. ''HFT is a computer game,'' one observer said. ''It's not about trading shares and staying in them.'' Last week an order for a stock was entered 100 times in a second and then removed to test the liquidity, he said."

Read more: http://www.smh.com.au/business/brokers-skewered-by-market-gyrations-20120715-224ad.html#ixzz20kJ87kvS