The HFT debate is bound to be misunderstood... It rose to prominence last year with the book by Michael Lewis &quot;Flash boys&quot;. A discussion between two exchange operators Bats and the new IEX: <a href="https:&#x2F;&#x2F;www.youtube.com&#x2F;watch?v=RcpmHyPD_PY" rel="nofollow">https:&#x2F;&#x2F;www.youtube.com&#x2F;watch?v=RcpmHyPD_PY</a><p>This issue is not about frequency per se at all. Its about who has access to what information at what price. For instance one thing that happened was that data providers (e.g. Reuters) sold information to a group of traders, before it was available to the public.<p>The question is not at all whether software should be used to trade (we&#x27;re not going back to pen &amp; paper &#x2F; pit trading). Rather the question is how software should be used in financial markets. HFT is not evil, it&#x27;s a difficult problem to be solved.