JARROW, ROBERT A.; PROTTER, PHILIP - In: International Journal of Theoretical and Applied … 15 (2012) 03, pp. 1250022-1
generated by the collective and independent actions of high frequency traders, coordinated via the observation of a common … arbitrageurs who make financial markets more efficient by taking advantage of and thereby eliminating mispricings, high frequency … traders can create a mispricing that they unknowingly exploit to the disadvantage of ordinary investors. This mispricing is …