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Full-Text Articles in Securities Law
Regulating High-Frequency Trading: The Case For Individual Criminal Liability, Orlando Cosme Jr.
Regulating High-Frequency Trading: The Case For Individual Criminal Liability, Orlando Cosme Jr.
Journal of Criminal Law and Criminology
The popular imagination of securities trading is a chaotic, physical stock exchange—a busy floor with hurried traders yelling, “buy, buy, buy!” While this image is a Hollywood and media favorite, it is no longer accurate. In 2019, most securities trading is conducted electronically on digital markets. One type of trading strategy, high-frequency trading, utilizes algorithms, data centers, fiber optic cables, and supercomputers to obtain an edge in the market. High-frequency trading has leveraged advancements in technology to constitute over half of all trading volume in a given day. High-frequency trading, however, has come under scrutiny in recent years as it …