> Do you know how efficient the system was before HFT started up? And, do you know how many people were working in trading before, and how many are, for a similar fraction of stock volume?

Again this weirdly mixes HFT with electronic automated trading, which I really don't think anyone in the domain would readily mix.

HFT by arbing over latency is entirely different to the automation of boring trader tasks that see less people employed to do the same thing in the front office.

I can't continue this more, it's just blind allegiance from people who are clearly not in the domain.

HFT != electronic trading