With the entry of the Chi-X trading platform to rival the Australian
Securities Exchange, the technological equivalent of an arms race is
underway as high-speed, high-volume algorithmic transactions enable the
fastest trader to jump on a trend and profit from price changes.
High-frequency trading (HFT) has regulators on red alert, while some
investors call it parasitic, many like to blame it for the wild
volatility that caused the 2010 Wall Street "flash crash". Market
surveillance expert Mike Aitken, a professor at the Australian School of
Business, says there's good news and bad news about HFT and an
overwhelming lack of evidence. He urges regulators not to rely on