Commentary: HFT's social benefit is lower trading costs

06/23/2014 | Bloomberg

Clifford Asness, managing principal at AQR Capital Management, responds to an opinion article about high-frequency trading by Noah Smith. "Smith concludes with the observation that HFTs should be presumed innocent until proven guilty, but fails to note that we already have overwhelming evidence of the former," Asness writes. He also notes that the social benefit of HFT is reduced costs for investors.

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