Felix Salmon

Where are the NYSE’s HFT studies?

By Felix Salmon
August 3, 2009

Steve Forbes interviewed Duncan Niederauer, the CEO of the NYSE, and asked him about high-frequency trading. Unsurprisingly, Niederauer came out in favor of high-frequency traders:

They’re actually probably the most consistent source of liquidity provision in the market today. I actually don’t think they added to the volatility in the crisis. If anything, the studies that we’ve done would suggest it’s a pretty consistent provision of liquidity that would dampen volatility.

The NYSE has done studies on this? Does anybody know where I might be able to find them?

2 comments so far | RSS Comments RSS

Most government chartered agencies enjoy a one-way street, and that includes the NYSE.

A monopoly is a fine thing, ain’t it?


Here is one study from 2007.

http://faculty.haas.berkeley.edu/hender/ Algo.pdf

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