HFT in 2016 and beyond

[algonoise]

There is a lot of taker only. And I think you are right in that most of the new places seem to also only take liquidity.

I haven't seen much with longer holding periods. Personally, I really like the several minutes timeframe because it's extremely hard to model so there seems to be less competition. But I haven't heard of it becoming popular.

Just another follow up to this. A WSJ article about HRT noted that they have an average holding time of ~5 minutes, hold positions amounting to 25% of firm trading capital overnight, and do ~5% of US equity volumes. So while there are some strategies with much shorter horizons, there's several large players providing liquidity on a 5-30 minute cycle.