HFT Lobbyist Acknowledges "Bad Actors," Says Don't Damage System

A leading spokesperson for the high frequency trading (HFT) lobby encouraged regulators not to “throw the baby out with the bathwater,” while acknowledging that “we know there are issues and the small number of bad actors should be addressed.” Transaction costs at historic lows “We have a structure that has lowered transaction costs to the lowest point in history,” said Peter Nabicht, policy advisor to the Modern Markets Initiative, which is an education and advocacy group supported by the high frequency trading industry. Nabicht makes it clear he has no issues with the trading practice of high frequency trading, just that “it is…