31 July 2009


Justin Schack

VP Market Structure Analysis

Joe Gawronski


Rosenblatt Securities Inc.
New York +1 212 607 3100
Dublin +353 1 855 9125

Inquiries to

High Frequency Hysteria: Setting the Record Straight


The Financial Times has asked us to write a commentary piece about high-frequency trading. We just submitted it today, so it has yet to be published (it will appear under Justin’s byline, thus the occasional “I” instead of “we.”) But given the timeliness of the issue we thought it appropriate to circulate to clients sooner rather than later. Please note that this is just a preview of a larger paper, which we intend to distribute shortly and will provide far more detail on the topic.

It finally happened.

After years of operating in obscurity, high-frequency traders have been thrust into the public spotlight. What started with a publicity-hungry critic or two ranting on the Internet has given way to breathless, cautionary media coverage — and questions from Washington policy makers.

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