AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
The Secular Trend in High Frequency Trading
The secular trend is from the upper right to the lower left in terms of liquidity. That really got its origins in electronic trading in the late 1990s, and it's only trended down since then. For a variety of different reasons, not only in the equities markets, but also in the treasury markets where you don't even necessarily have high frequency trading, we're seeing a lack of liquidity. And so I think that's what's caused some of these outsized movements and some of these really quick movements.