Warren Buffett Defends Business Wire On HFT IssueMark Melin
Warren Buffett today rebutted charges that Business Wire, a Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B) subsidiary, gave special advantage to high frequency traders before Business Wire information was available to general investors.
In a February 6 Wall Street Journal article Scott Patterson, author of the algorithmic trading book The Quants, wrote, “High-frequency traders have been paying to get direct access to market-moving news releases . . .
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