Critics including some regulators and market participants say that HFT trading, which captured the spotlight in the May 2010 flash crash, serves little purpose, may distort the market and leaves retail investors at a disadvantage.
Trading is now effectively non-stop, with transactions measured in millionths of a second. Budish, an associate professor of economics at the Booth School of Business, proposes to instead segment trading into thousands of auctions throughout the day.
Pete Nessler, CEO of FCStone Group, was raised in Chicago but earned his stripes in the grain fields of Iowa. Working with elevators and farmers, he helped turn Farmers Commodities Corp. from a group of co-ops into the international brokerage firm INTLFCStone that it is today.
Dan Dicker, energy trader, oil analyst, television and web commentator, author and general provocateur doesn’t mince words, especially about the new players brought in through electronic trading of the markets.