Turning the table on high-frequency traders

As Robert Gottliebsen has reported, a key executive of one of Australia’s largest retail stock brokers has blown the lid on what he calls the “market rigging” which is taking place on the Australian stock exchanges. 

He was commenting on my article (Getting the jump on high-frequency trading, July 18).

Bell Potter’s managing director for its wholesale division, Charlie Aitken believes that the “market riggers” – the so-called high-frequency traders – are causing the community to lose faith in Australian and world stock markets. 

Aitken believes that the high-frequency traders account for at least 75 per cent of Australian market turnovers. While nominally the HFT traders are mostly household names among institutional brokers, Aitken believes these brokers are acting for shadowy anonymous overseas traders.

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