Müssen High Frequency Trading Strategien unterbunden werden ?

Kürzlich ging durch die Medien, dass ein Mitarbeiter von Goldmann Sachs
wichtiger Dateien für spezielle (high frequency trading) Handelsstrategien gestohlen haben soll.

Dies lenkte die Aufmerksamkeit der breiten Öffentlichkeit auf diese Handelsmethoden
und bringt sie gegenwärtig in die öffentliche Kritik.

Einige Zitate:

aus:
http://www.safehaven.com/article-13892.htm

"Goldman Sachs went after an employee who stole some of their latest and greatest software this last week. The US assistant attorney general said in the courtroom that the software had the potential to manipulate the market."

Heißt das also mit anderen Worten, dass Goldmann Sachs und andere Benutzer von "high frequency trading strategies" den Markt manipulieren ?

-------------------------------

aus:
http://www.themistrading.com/article_files/0000/0348/Toxic_Equity_Trading_on_Wall_Street_12-17-08.pdf
(sehr lesenswert !!!)

"High frequency trading strategies have become a stealth tax on retail and institutional investors. While stock prices will probably go where they would have gone anyway, toxic trading takes money from real investors and gives it to the high frequency trader who has the best computer. The exchanges, ECNs and high frequency traders are slowly bleeding investors, causing their transaction costs to rise, and the investors don’t even know it."

und

"WHAT CAN BE DONE?
Forget about short sale restrictions. From a regulatory point of view, we believe two simple, but powerful rules would help to eliminate much of the problem.
1.
Make orders valid for at least one second. That will eliminate the pinging. High frequency traders will expose themselves. One second would destroy their ability to immediately cancel it if nothing is there.
2.
Reinstate the 2% curb on program trading. When the market is down 3% or 4%, that’s when the program traders can really juice it. The SEC, however, has to institute the curb across the board so no market center has an advantage over another."