It didn't take long.
It is called high-frequency trading — and it is suddenly one of the most talked-about and mysterious forces in the markets.In theory, the free market operates toward a happy little equilibrium because everyone has the identical and complete information upon which to make their rational economic decisions.
Powerful computers, some housed right next to the machines that drive marketplaces like the New York Stock Exchange, enable high-frequency traders to transmit millions of orders at lightning speed and, their detractors contend, reap billions at everyone else’s expense.
It ain't so.
Now it's even worse.
Stock traders find speed pays, in milliseconds