The benefit to me personally is that I can buy something like SPY for my retirement savings and not worry that I'm getting ripped off on the price. I just picked SPY as an arbitrary example and I'm not making any investment recommendations in this comment.
The benefit to society is that less money and human capital is wasted on finance so more money and human capital can be allocated to more interesting things.
HFT is a tiny industry that generates a tiny amount of money and they've largely replaced what used to be a much larger industry that generated a lot more money. That sounds like a huge benefit to me.
The benefit to society is that less money and human capital is wasted on finance so more money and human capital can be allocated to more interesting things.
HFT is a tiny industry that generates a tiny amount of money and they've largely replaced what used to be a much larger industry that generated a lot more money. That sounds like a huge benefit to me.