Good to see an increasing number of articles examining the arguments of those critical of HFT. I said it just a couple of days ago, and earlier, that I find the arguments against HFT unconvincing (not to mention pathetically whiny … see my post, here: https://financialmarketstrading.wordpress.com/2011/03/01/i-heart-hft-part-2/ )
But this guy puts it better than me. Have a read of this article, The arguments against HFT
I love this:
This “controversy” is offensively dumb. Yet, so few people understand anything about it beyond “they make money,” I figure I’m going to have to hear about it for years to come. Get back to me when someone comes up with a better argument against HFT which isn’t one of the above 5; until then, you’re a moron and I’m not listening to you.