In our web poll last week we asked about high-frequency traders, in response to comments made by Andy Haldane, the Bank of England’s head of financial stability, who compared last May’s flash crash to a physical catastrophe that we ignore at our peril.
In a speech he delivered in Beijing earlier this month, Haldane said that the drive to achieve zero latency, where trading converges at the speed of light, has destabilised markets and needs to be reined in. “There is nothing normal about recent deviations in financial markets,” he told the International Economic Association’s 16th World Congress. “The race to zero may have contributed to those abnormalities, adding...
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