The hottest new thing on Wall Street is cooling down.
High-frequency trading
firms — the lightning-quick, computerized companies that have risen in
the last decade to dominate the nation’s stock market — are now
struggling to hold onto their gains.
Profits from high-speed trading in American stocks are on track to be,
at most, $1.25 billion this year, down 35 percent from last year and 74
percent lower than the peak of about $4.9 billion in 2009, according to
estimates from the brokerage firm Rosenblatt Securities. By comparison,
Wells Fargo and JPMorgan Chase each earned more in the last quarter than
the high-speed trading industry will earn this year.
Read the full article at The New York Times
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