DealZone

The explosion of interest in high-frequency trading has started to drag new faces to sometimes staid industry conferences. Traders who for years worked on algorithms and computer codes behind the scenes are stepping into the spotlight. They’re appearing on more and more panel discussions, feeling the need to defend their practice against the slings and arrows of politicians and regulators.

So far, they’ve managed to mix exasperation with good humor. The head of one high-frequency trading shop, speaking on a panel this week, said that if you believe everything you read in newspapers you might think the practice is “an unfair, highly profitable and socially useless trading strategy implemented by highly secretive and unregulated traders using superfast computers to compete with retail investors, manipulate markets and front run flash orders causing volatility in the financial markets and creating systemic risk.”

He argued that a more accurate definition of high-frequency trading would be, “a wide variety of highly competitive, low margin trading strategies implemented by professional market intermediaries who have invested heavily in technology that have the effect of making the markets more efficient by enhancing liquidity and transparent price discovery to the benefit of investors.”

Rising stock markets and talk of improving economic confidence have prompted a barrage of analyst notes on how the M&A market is picking up.  Check out what I wrote on the subject earlier Thursday .

Here’s a few quick points from others:

Citigroup said that as global economic indicators stabilize, financing markets reopen and equity markets recover, hostile takeovers may be poised for a sharp resurgence. “Indeed, many recent high profile M&A transactions have been unsolicited or hostile in nature,” a note said.

My colleague Quentin Webb talked about mergers and aggravation, or hostile bids,  in July.