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Prof. Joel Hasbrouck's research on high frequency trading (HFT) is cited

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Excerpt from Livemint -- "Joel Hasbrouck and Gideon Saar, in a paper published by the Journal of Financial Markets, wrote that low-latency activity (read HFT) improves traditional market quality measures such as spreads, depth and volatility and that they need not work to the detriment of long-term investors."

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