How to Make Money in Microseconds
Donald MacKenzie: Algo-Sniffing, 19 May 2011
“... they will sell a corporation’s shares and a lower price at which they will buy them, in the hope of earning the ‘spread’ between the two prices – but they revise prices as market conditions change far faster than any human being can. Their doing so is almost certainly the main component of the flood of orders and cancellations that follows even ... ”