Shining a light on high-frequency trading

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High-frequency traders have rarely sought or encouraged publicity, but their trading practices have become one of the most emotive issues in today’s foreign exchange market, and a key driver of change among trading platforms. While high-frequency trading (HFT) is recognised as adding liquidity to the overall market, certain HFT practices – such as speeding in and out of the market in sub-milliseconds or flashing orders – have driven some banks to launch platforms that prohib