dutch documentary on hft that aired this week, but this video is 100% english. includes ib-boss petterfly, a hft trader that blew up and gone whistle blower, and some other moderately interesting people.
Before high speed trading a buy side order went to a market maker who took the bid/ask diff, 25 cents or so, to handle the order, no? Now everybody is made to fight over that 25 cents. I'm not sure that the buy siders aren't better off now.