The Economics of High-Frequency Trading: Taking Stock

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How researchers see this paper

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High‐Frequency Trading around Large Institutional Orders (2019, unknown): “Biais and Foucault (2014), O’Hara (2015a), and Menkveld (2016) are examples of survey articles on the young and rapidly growing HFT literature.1 Relatively unexplored is how HFT relates to trading by an important group of end users of securities markets: institutional investors.”
On the Fintech Revolution: Interpreting the Forces of Innovation, Disruption, and Transformation in Financial Services (2018, background): “Despite a research history into this topic of nearly ten years and hundreds of papers that analyzed the impact of HFT on market quality and integrity [110], there is still no general agreement in academia on whether HFT strategies are positive or dangerous for markets and investors.”
Digital Finance and FinTech: current research and future research directions (2017, unknown): “The interested reader is referred to the existing extensive literature reviews of, e.g., Biais and Foucault (2014), Chordia et al. (2013), Gomber et al. (2011), Menkveld (2016), O’Hara (2015), and SEC (2014).”