“Like any significant technological innovation, high-frequency stock trading has had a polarizing effect on the industry it has changed forever.

“To its advocates high-frequency trading — the use of sophisticated computers to trade large amounts of stock at extremely high rates of speed — is a paradigm shifting, revolutionary leap forward. To its detractors it’s an unregulated badlands teeming with outlaws and bandits. The reality, of course, lies somewhere in between.

“Peter Nabicht is a former executive at high-frequency trading (HFT) firm Allston Trading who now touts the benefits of the innovation as a senior advisor for an industry group called Modern Markets Initiative.”

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“Dennis Kelleher, chief executive of Better Markets, an advocacy group that supports increased market transparency, strongly disagrees.

“Only people getting paid by high-frequency trading firms talk about the ‘benefits’,” said Kelleher. “There are mountains of evidence that market manipulation and abusive practices are rampant” among the ranks of high-frequency trading firms.”

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Read full Fox Business article here.