http://www.financialsense.com/contributors/michael-shedlock/high-...

http://www.financialsense.com/contributors/michael-shedlock/high-frequency-trading-hails-its-first-billionaire

High Frequency Trading Hails Its First Billionaire
BY MICHAEL SHEDLOCK
12 march 2014

Vincent “Vinnie” Viola, the founder of Virtu Financial Inc, is High Frequency Trading's (HFT) first billionaire. He has an impressive track record of just “one losing trading day” during a 1,238 trading-day period.

How does he do it? The same way other High-Frequency Traders do it: front running trades and scalping countless billions and billions of fractions-of-pennies in the process.

Before discussing the first HFT billionaire, let's post some background for those who are not familiar with the process.