A Dysfunctional Role of High Frequency Trading in Electronic Markets

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The Diversity of High-Frequency Traders (2013, unknown): “Several theoretical models use latency as the defining characteristic of AT and HFT, finding that fast traders profit at the expense of slow traders (Jarrow and Protter, 2011; McInish and Upson, 2011).”
Low-latency trading $ (2013, unknown): “high-frequency trading in financial markets (Cvitanic and Kirilenko, 2010; Gerig and Michayluk, 2010; Hoffmann, 2010; Jovanovic and Menkveld, 2010; Cohen and Szpruch, 2011; Biais, Foucault, and Moinas, 2012; Cartea and Penalva, 2012; Jarrow and Protter, 2012; Martinez and Rosu, 2013).”
Competing on Speed (2018, unknown): “Email: tphilipp@stern.nyu.edu”
High frequency market microstructure. (2015, background): “(see Jones [2012], Brogaard, Hendershott, and Riordan [2012], Carrion [2013]).”
Very Fast Money: High-Frequency Trading on the NASDAQ (2013, background): “The HFT-specific models such as Jarrow and Protter (2012) and Jovanovic and Menkveld (2012) describe a variety of mechanisms that could make prices more or less efficient. Empirically, BHR (2013) find that HFTs are an important part of price discovery process and that their abnormal trading is in th”