

Nobel Laureate Stiglitz Blocked from SEC Panel After Faulting High-Speed Traders - pierrealexandre
http://www.bloomberg.com/news/2015-01-05/stiglitz-blocked-from-sec-panel-after-faulting-high-speed-trades.html

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this_user
If they accept Brad Katsuyama, there must be some other reason for excluding
Stiglitz than criticising HFTs. Katsuyama has not only done the same very
publicly but literally created a company to build a trading platform that
nullifies HFT strategies by design.

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tdullien
Katsuyama created a trading platform that nullifies _one_ HFT strategy, namely
latency arbitrage.

Stieglitz is much more critical of the strong efficient market hypothesis in
general; from this, he derives a number of positions that are anathema to the
entire trading community - among other things, he has advocated a Tobin tax.

In short: Katsuyama is someone that will help with technical tweaks to get rid
of the most egregious abuses of HFT (which would benefit the other players at
the table, e.g. the trading organisations and exchanges), Stieglitz would
probably advocate higher transaction costs (which would decrease overall
trading volume and hurt the other players at the table).

So Stieglitz isn't invited because he's seen as "bad for business".

