What was once considered niche, black market-making magic is now a full out trading operation that can no longer be ignored.
High frequency trading has its share of critics, but traders who work for firms like Tradeworx play the capitalism card:
For their part, the fast traders don’t see what all the fuss is about.
“We live in a capitalist society,” said Tradeworx Chief Executive Manoj Narang, 40, wearing jeans, runners and a Yankees baseball cap.
“People should expect and be willing to pay a price for the liquidity that they get. No one should expect that a provider of liquidity is just going to stand there while you bulldoze them into submission,” Narang said.